AUDJPY Price Action Analysis - good possible breakdown in the near future

AUDJPY Price Action Analysis - good possible breakdown in the near future

29 July 2015, 15:11
Sergey Golubev
0
773

W1 price was located between 100 period SMA (100-SMA) and 200 period SMA (200-SMA) for the primary bullish market condition with the secondary ranging between the values of 100-SMA and 200-SMA. For now - the price is crossing 200-SMA and trying to break Fibo support level at 89.15 as the next target. If the price will break 89.15 on close bar so we may see the reversal of the price movement to the primary bearish market condition, otherwise - ranging.

  • the price is crossing 200-SMA from above to below for the primary bearish condition;
  • If the price will break 89.15 on close bar so we may see the reversal of the price movement to the primary bearish market condition;
  • triangle pattern is going to be broken by price from above to below for good possible breakdown in the near future.

If the price will break Fibo support level at 89.15 so we may see the reversal of the price movement to the primary bearish market condition. 
If not so the price will be ranging between 100-SMA and 200-SMA.

Trend:

W1 - reversal to the bearish
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