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AUDJPY falls to one-month low

Discussion in 'Technical Analysis' started by FXStreet_Team, Apr 7, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    AUDJPY has made repeated attempts to break above the 86.50 – 86.70 levels, making this a strong resistance area. The 200-day moving average is also acting as resistance as was evident on March 31 when prices tested this level at 86.69 and fell back down. A break below the 100 and 50-day moving averages accelerated the fall and prices consequently fell to a one-month low of 82.68 today. The market is approaching the 38.2% Fibonacci retracement level of its December 2015 – February 2016 decline,

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