The AUD/JPY’s slide continued this week, with the pair breaking below the major support around 97.80-98.14 (first retracement of 2012-2013 upward wave and medium-term ascending channel). This suggests that there will be an extension of the pair’s consolidation over the next few trading sessions towards the next major support at 93.62 (retracement). A recovery back above the resistance around 100-101 would probably invalidate this scenario in the short term. Sell – Stoploss @ 99,52 – Target @ 93,63.
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