Beginner Forex book

Beginner Forex book will guide you through the world of trading.

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

FBS Mobile Personal Area

FREE - In Google Play

View
AUD/JPY may fall further

AUD/JPY may fall further

Information is not investment advice

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 (200, 100, and 50 SMA). This week the pair broke below the February support line in the 73.40 area. Its attempts to get higher have failed, as sellers are quite active. The threat of the coronavirus is the biggest bearish driver for the AUD. The odds are that its impact will continue. At the moment of writing, the pair is testing support at 72.50 (February low, 61.8% Fibonacci of the 2019 advance). The break below this level will open the way down to 71.75 (October lows) and 71.35 (78.6% Fibo). Resistance lies at 73.25 and 73.80.

Trade idea for AUD/JPY

SELL 72.30; TP1 71.75; TP2 71.35; SL 72.55

AUDJPYDaily.png

LOG IN

Similar

EUR/USD: a temporary bottom

On the H4, we can see that EUR/USD has found a temporary bottom in the 1.0770 area. The pair is now trading above the former short-term resistance line going down from March highs (1.0835).

Popular

Choose your payment system

Learn more