Forex

AUD/JPY Bounce From POC is Possible

October 19, 2017

2 min read

tarantula fx

Head of Trading

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The AUD/JPY has made a bullish swing close to the W L4 camarilla pivot point and trend line and it looks like the price momentum changed to bullish. However, traders need to pay attention to POC zone as the POC zone should reject the price if it wants to stay in the positive territory.

The POC zone 88.25-40 (D L4, 61.8, ATR pivot, order block, EMA89) should spike the price towards 89.00 and if momentum persists – 88.29. As long as 87.90 holds bulls will not be in danger. However, break of 87.90 targets 87.65 and 87.20 and pair will switch to neutral again.

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