AUD/JPY intraday: look for a drop towards 94.30 before a bounce
Our pivot point stands at 94.30.
Our preference: look for a drop towards 94.30 before a bounce.
Alternative scenario: below 94.30, expect 93.93 and 93.72.
Comment: the RSI is above its neutrality area at 50. The MACD is negative and below its signal line. The penetration of 50 on the RSI should trigger further losses. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 94.63 and 94.64).
Supports and resistances:
CM Trade Mobile Application