AUDJPY Price Action Analysis - intermediate support to be broken to the next bearish target
Analytics & Forecasts

AUDJPY Price Action Analysis - intermediate support to be broken to the next bearish target

23 September 2015, 18:11
Sergey Golubev
Sergey Golubev
0
1 052

D1 price is below 200 day SMA and 100 day SMA for the primary bearish market condition with the secondary ranging between 87.50 key resistance level and 81.94 key support level:

  • 100 day SMA is below 200 day SMA for the bearish trend to be continuing;
  • the price is breaking internediate support level at 84.62 on open daily bar for 81.94 as a next bearish target.
  • reversal key resistance level is 91.53 located on the border between the primary bearish and the primary bullish trend on the daily chart.

If the price will break 81.94 support level on close daily bar so the primary bearish trend will be continuing.
If the price will break 87.50 resistance level from below to above on close daily bar so we may see the secondary market rally to be started within the primary bearish market condition.
If not so the price will be ranging within the levels.

Trend:

W1 - ranging bearish
#technical analysis, price action, audjpy