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Failure To Counter Important Resistance Can Trigger AUDJPY Pullback

Discussion in 'Technical Analysis' started by Kaitlin, Dec 7, 2015.

  1. Kaitlin

    Kaitlin Forum Member

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    Break of four month old horizontal resistance, now acting as immediate support, triggered AUDJPY rally towards the highest levels in more than three months; however, resistance-line of a "Rising-Wedge" bearish formation, coupled with the 200-day SMA, restricted the pair's further advance. Should the pair fails to break 90.75-80 important resistance,[​IMG]

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