Outlook Although RSI indicator shows neutral
signal, AUD/JPY experienced a huge rally on the 3rd of August, however a trend
reversal happened, and now the price follows a downward trend, and is about to
reach weekly PP at 82.57, which might prove to be support for the current
decline. If it is broken, then the bearish tendency is likely to advance even
further until 200-day SMA at 81.97, which in turn will probably reverse the
movement downwards. On the other hand, resistances are at 83.06, 83.43 and
83.58 and seem to be safe for now.
Traders' sentiment Traders' sentiment at SWFX market remains close to
neutral, as 56% of traders hold long positions on AUD/JPY and 44% of traders
hold short positions. The situation with orders is very similar, since 49% of
traders ordered to buy and 51% of traders ordered to sell the Australian
Dollar.
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