AudJpy could drop 500 pips in mediumterm
Since the pandemic low at 60, AudJpy traded upwards with the pair gaining almost 4k pips and almost reaching the 100 figure.
However, since the top made at the end of April, the pair entered a rising wedge pattern and, at the end of September, has broken the rising trend line support of this.
In the past month, the 95 zone acted as a strong ceiling for AudJpy and the odds are in favor of down continuation.
Swing traders can target 86-87 zone support and look to sell rallies against 95
However, since the top made at the end of April, the pair entered a rising wedge pattern and, at the end of September, has broken the rising trend line support of this.
In the past month, the 95 zone acted as a strong ceiling for AudJpy and the odds are in favor of down continuation.
Swing traders can target 86-87 zone support and look to sell rallies against 95
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