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Forex technical analysis: AUDJPY tries below 200 hour MA again

Discussion in 'Technical Analysis' started by ForexLive, Oct 14, 2015.

  1. ForexLive

    ForexLive Forum Member

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    38.2% of the move up from Sept 29 low also tested The AUDJPY trended lower in trading yesterday. After bottoming after breaking below the 200 hour MA (green step line in the chart below - currently at 86.526), and NOT finding additional downside momentum, the price corrected in trading today to the 38.2% of the trend move lower (see chart below at 87.04).. The pair is currently back down toward the NY session lows and has dipped back below the 100 and 200 bar MAs on the 5-minute chart AND the 200 hour MA at 86.526. Are the sellers gathering for another run lower?

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