FXWW News/JPY crosses/Technical Analysis/Trade Ideas

Actually, much stronger AUD/JPY support just below 89.50

I posted this chart on Twitter a little earlier, and thanks to FXWW303 for the heads-up. (See chart) for the very strong medium-term technical support around 89.30.

There are some who claim that the strongest technical signal of all is the trend-line convergence with the 61.8% retracement.

  1. I think there are all of them combined. Trend line, fibo levels and the previous resistance now support on weekly ( from 90 to 88.50. Fact is the cross has been very well supported around 90 in recent times , so long position against support levels looks as good as it gets from a technical perspective. There is also the matter of AUD reversal.

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