AUDJPY Short
Our pivot point is at 93.28.
Our preference:
target 92.07.
Alternative scenario:
above 93.28, look for 93.71 and 93.96.
Comment:
the RSI is below 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price is below its 20 period moving average (93.15) but above its 50 period moving average (92.67).
Our preference:
target 92.07.
Alternative scenario:
above 93.28, look for 93.71 and 93.96.
Comment:
the RSI is below 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price is below its 20 period moving average (93.15) but above its 50 period moving average (92.67).
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