AUD/JPY may fall further
AUD/JPY is in the downtrend since the start of the year. It was capped on the upside by all the three important moving averages on the D1.
AUD/CAD can get higher
Information is not investment advice
AUD/CAD is trying to hold at some important long-term levels (0.8970 is the 50% Fibo retracement of the 2008-2012 advance). A bullish weekly candlestick with a long lower wick shows that bulls are willing to buy below it. On the D1, the pair closed above the 50-day MA on Friday (0.8990) after forming a higher low earlier last week. As long as it trades above 0.8990/70, it has bullish momentum for a move up to 0.9050, approaching the 100-day MA.
Elizabeth Belugina
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