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AUD/JPY intraday: below its lower Bollinger band
2024-07-15
402
Our pivot point is at 107.03.
Our preference: the downside prevails as long as 107.03 is resistance.
Alternative scenario: above 107.03, look for 107.33 and 107.51.
Comment: the RSI is below 30. It could either mean that the pair is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 107.01 and 107.06). Finally, the AUD/JPY is trading below its lower Bollinger band (standing at 106.75).
Supports and resistances:
107.51 **
107.33 *
107.03 **
106.91
106.70 last
106.30
106.11 **
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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