AUDJPY is Trying to Stabilize as Sydney Cluster Getting Bigger
Burc Oran
December 23, 2020
AUDJPY, Hourly Chart
AUDJPY, Hourly Chart

AUDJPY’s rise has been stalled after the uptrend was broken. Yesterday Australia retail sales data shows a big positive surprise and AUDJPY is still holding on just below the broken trend. But recent Covid-19 mutation and graving Sydney Cluster may slow down the demand.

The lower line of the trend 78.48 and recent top 78.80 can be followed as resistance in the short-term. As long as these resistances hold, bearish pressures may increase. 77.50 and 77.00 can be good targets for downward moves.

If the price breaks over 78.80, AUDJPY may re-enter the trend and start a new bullish move to 80.

Share

Stay informed with market news by subscribing to our reading list.

This field is for validation purposes and should be left unchanged.

FTD Articles is a website prepared by FTD Limited's research team. FTD Limited is an online brokerage company offering products of Forex, Spot Metals and CFDs.
The ideas and the information shown here have no responsibility of any of the trading decisions made by the investors or the visitors of this site. Therefore, under no circumstances will FTD Limited nor FTD Articles be held responsible or liable in any way for any claims, damages, losses, costs or liabilities resulting or arising directly or indirectly from the use of website content. We recommend that you seek advice if you have not involved with trading before in order to prevent potential risks that may arise.

Pro Forex Analysis

Follow our Channels