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AUD/JPY intraday: below its lower Bollinger band

2024-01-18
1157

Our pivot point stands at 97.32.

Our preference: target 96.30.

Alternative scenario: above 97.32, look for 97.68 and 97.89.

Comment: the RSI is below 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price is below its 20 period moving average (97.04) but above its 50 period moving average (96.93). Finally, the AUD/JPY is trading below its lower Bollinger band (standing at 96.95).

Supports and resistances:

97.89 **

97.68 *

97.32 **

97.17

96.95 last

96.51

96.30 **

The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.

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