COTD - 27/03 AUDJPY
After the overnight moves in both the Aussie crosses and the early moves in the EU Session for the USDJPY pair today we are going to take a look at AUDJPY cross.
As the AUDUSD grinds ever closer to breaking the key support of 0.70 level and USDJPY remains stuck between 108 & 112 so far through 2019, we are currently in an interesting spot for AUDJPY.
After failing to break resistance at prior highs we have seen this pair making lower highs and RSI pushing into overbought territories on each push higher pointing towards a more bearish sentiment.
Currently, the next support for the pair is the psychological number of 78 however it doesn't appear to be acting as too much support recently, so eyes turn to previous lows at 77.53 to see whether it holds and this pair turns into a range trade or whether we get a definitive move lower.
Close eyes will be on this and the price action of both the AUDUSD and the USDJPY pairs to see whether they will give us an indication of where we are headed.
AUDJPY
AUDUSD
USDJPY
As the AUDUSD grinds ever closer to breaking the key support of 0.70 level and USDJPY remains stuck between 108 & 112 so far through 2019, we are currently in an interesting spot for AUDJPY.
After failing to break resistance at prior highs we have seen this pair making lower highs and RSI pushing into overbought territories on each push higher pointing towards a more bearish sentiment.
Currently, the next support for the pair is the psychological number of 78 however it doesn't appear to be acting as too much support recently, so eyes turn to previous lows at 77.53 to see whether it holds and this pair turns into a range trade or whether we get a definitive move lower.
Close eyes will be on this and the price action of both the AUDUSD and the USDJPY pairs to see whether they will give us an indication of where we are headed.
AUDJPYAUDUSDUSDJPY
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