AUD/JPY: bearish breakdown. Citigroup made a technical and fundamental forecast suggesting to sell AUD/JPY with 84.25 as a target and 86.91 as a stop loss. As we see from the chart below - the price is located below Ichimoku cloud in the bearish area of the chart for the ranging between 88.60 resistance level and 81.94 support level. There are intermediate support levels for this pair: 84.50 and 82.81.
- If the price breaks 84.50 support from above to below so the bearish trend will be continuing up to 81.94 as the next bearish target.
- If the price breaks 88.60 resistance from below to above so the local uptrend as the bear market rally will be started up to the reversal of the price movement to the primary bullish market condition.
Chinkou Span line is located below the price and directed us to the ranging bearish trend to be continuing.
There are the following news events which will be affected on AUD/JPY price movement for the week:
- 2015-11-11 23:50 GMT | [JPY - Core Machinery Orders]
- 2015-11-12 00:30 GMT | [AUD - Employment Change]
- 2015-11-12 14:30 GMT | [USD - Fed Chair Yellen Speaks]
- 2015-11-13 13:30 GMT | [USD - Core Retail Sales ]
| Resistance | Support |
|---|---|
| 88.60 | 84.50 |
| 97.29 | 81.94 |
