AUD/JPY recovers from multi-week low, confronts short-term key resistance. Bearish MACD, RBA’s expected dovish halt might drag the pair downwards. November 2019 low can please buyers during the upside break. AUD/JPY holds onto recovery gains while trading around 72.70 amid the initial Asian trading hours on Tuesday. The pair’s bounce from 16-week low confronts 23.6% Fibonacci retracement of its April-August 2019 fall ahead of the key RBA interest rate decision While comparing bearish MACD and the pair’s trading below the key supports to the likelihood of the RBA’s dovish halt, the quote is expected to remain weak. With this, sellers will look for entry below Monday’s low of 72.40 to take aim at 71.85/75 support zone comprising October 2019 lows. Alternatively, November 2019 monthly bottom near 73.35 and the previous month’s trough close to 73.75/80 can offer immediate resistance to the pair during its further recovery. However, a confluence of 100-day SMA and 38.2% Fibonacci retracement, around 74.30, could keep the bulls challenged then after. AUD/JPY daily chart Trend: Bearish FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Moody’s: Coronavirus outbreak will curb China’s consumption FX Street 2 years AUD/JPY recovers from multi-week low, confronts short-term key resistance. Bearish MACD, RBA’s expected dovish halt might drag the pair downwards. November 2019 low can please buyers during the upside break. AUD/JPY holds onto recovery gains while trading around 72.70 amid the initial Asian trading hours on Tuesday. The pair’s bounce from 16-week low confronts 23.6% Fibonacci retracement of its April-August 2019 fall ahead of the key RBA interest rate decision While comparing bearish MACD and the pair’s trading below the key supports to the likelihood of the RBA’s dovish halt, the quote is expected to remain weak. With this, sellers… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
