AUD/JPY Drop Looking Imminent

The AUD/JPY looks bearish as the price has formed a bearish shoulder-head-shoulder formation.

The POC zone looks interesting for sellers. 84.50-84.80 is the zone where we could expect sellers. A close below 84.27 should move the price even lower. The target will be 83.75 then. If we see the price there then 83.58 is the last weekly resistance. It’s Friday today, so get ready for profit-taking.

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Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. On average around 80% of retail investor accounts loose money when trading with high ...

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