AUD/JPY Bearish Continuation or Bullish Bounce

2 min read
Nenad Kerkez

Nenad Kerkez

Head of Trading

Dear Traders,

AUD/JPY is overall bearish. The price must remain below 66.00 in order for bears to stay in control.

65.50-60 is the POC zone where the price might reject lower. The first target will be 65.22, and the break below should target 64.60, 64.36 and 63.90. We can see a lot of historical sellers within the POC. However, a bounce above 65.70 might lead the price to a retest of 66.00. If 66 breaks, then bulls should expect a bounce up. Observe it and trade as the AUD/JPY is the best pair which follows the equities correlation.

The analysis has been done with the CAMMACD system.
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Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

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