Home AUD/JPY Technical Analysis: Capped by 4HR 20-SMA, below interim channel support, eyes are on 76.30s double bottom

AUD/JPY Technical Analysis: Capped by 4HR 20-SMA, below interim channel support, eyes are on 76.30s double bottom

Updated: 13 May. 2019 | 01:52

AUD/JPY bulls were capped by 4HR 20-SMA and lower channel resistance with the confluence of 38.2% retracement level.
4HR Stochastics are turning lower.
Below interim channel support, eyes are on 76.26/30s 2nd Jan lows and recent double bottom.
75.80 is a 50% retracement target and 75.24 as the 4th Jan lows, second lowest point to date bar the flash crash lows at 71.03.
Upside target is the 77.22 highs for the closing day last week and 77.50s, Fibo level and the confluence of 25th March swing low.

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