AUD/USD formed an inverted "Head and Shoulders’ and is targeting 0.7815, 0.7840, and 0.7860.
AUD/JPY needs to decide
Information is not investment advice
AUD/JPY has reached the support line connecting August and October lows in the 73.30 area. Now the pair will have to decide, which trend it’s going to continue: the long-term downtrend or a shorter-term uptrend. In the first case, the initial targets will lie at 72.80 and 72.15 (50% and 61.8% of the August-November advance). If the support holds and the price returns above the 50- and 100-day MAs, a break above 73.95 will allow it to rise to 74.50 (September highs).
USD/JPY rose to the resistance of the 50-week MA at 106.00. The pair is not at the resistance line since the end of December.
USD/CAD reversed down from 1.2865 last week and formed a candlestick with a long upper wick on the W1.
According to Westpac, the AUD is undervalued. What target do they set?
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