Advertisement
Australia markets closed

  • ALL ORDS

    7,937.50
    -0.40 (-0.01%)
     

  • ASX 200

    7,683.00
    -0.50 (-0.01%)
     

  • AUD/USD

    0.6507
    +0.0007 (+0.10%)
     

  • OIL

    82.62
    -0.19 (-0.23%)
     

  • GOLD

    2,330.80
    -7.60 (-0.33%)
     

  • Bitcoin AUD

    98,621.49
    -4,073.48 (-3.97%)
     

  • CMC Crypto 200

    1,392.37
    -31.73 (-2.23%)
     

  • AUD/EUR

    0.6074
    +0.0004 (+0.06%)
     

  • AUD/NZD

    1.0948
    +0.0006 (+0.05%)
     

  • NZX 50

    11,946.43
    +143.15 (+1.21%)
     

  • NASDAQ

    17,526.80
    +55.33 (+0.32%)
     

  • FTSE

    8,040.38
    -4.43 (-0.06%)
     

  • Dow Jones

    38,460.92
    -42.77 (-0.11%)
     

  • DAX

    18,088.70
    -48.95 (-0.27%)
     

  • Hang Seng

    17,143.44
    -57.83 (-0.34%)
     

  • NIKKEI 225

    37,924.19
    -535.89 (-1.39%)
     

AUD/JPY Possible Counter Trend Rejection in 76.20 Zone

Nenad Kerkez

76.10-20 zone looks a bit overbought and the price might drop. We already see a lower high and if the price stays below 76.60 we might see a drop towards 75.82 and 75.45. Have in mind that this is effectively a counter trend move (retracement) that presents a trading opportunity. If the price makes a retracement lower to M L3 -75.45, we might see another bounce.

The analysis has been done with the CAMMACD.MTF template.

For more daily technical and wave analysis and updates, sign-up up to our ecs.LIVE channel.

Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

This article was originally posted on FX Empire

More From FXEMPIRE: