AUD/JPY reaches 81.50

Author: Adam Button | Category: News

AUD/JPY  has climbed to the confluence of the 55-day moving average and the 50% retracement of the March-June decline.

It’s a target that I have been eying for the past week.

This pair has been a slow mover recently and some consolidation back to the 100-day moving average would set-up for a retest of 83.00. Bids cited 81.00/20. Softer stocks will hurt this pair.