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AUD/JPY intraday: the downside prevails as long as 99.52 is resistance
2024-04-05
845
Our pivot point stands at 99.52.
Our preference: the downside prevails as long as 99.52 is resistance.
Alternative scenario: the upside breakout of 99.52, would call for 99.79 and 99.95.
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 below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 99.58 and 99.91).
Supports and resistances:
99.95 **
99.79 *
99.52 **
99.41
99.27 last
98.87
98.71 **
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