AUDJPY weekly chart is showing a strong level of support that come into play near 79.50. Note in this weekly chart we can see on 8 and 9 moving averages have crossed top indicating that is building momentum upwards. Lowest price Should rotate in support 79,50 we would watch the daily charts and 4 hours for bullish price action to get along.
Note also the 2 configurations of bar very poorly formed pin bullish who formed Back near the end of August, and inside bar that has formed just below the current support of 79.50.
Today's Chart shows the power of clear and simple price action configurations and the benefits from trade times higher in Forex.
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Comment:
The u.s. dollar regained some lost ground against the euro today on concerns persisted for debt of the euro zone. Speculation loosening more federal reserve of the United States has worked to increase prices on treasuries.
The Central Bank Ireland said will scan virtual economy stop this year; This adding pressure to the euro and put once cares for euro area economies on the main stage.
The euro fell 0.80% against the dollar, up to $ 1.3678. the dollar rose to 0.25% against the Japanese yen, to 83.40.
Despite moderate rally today in USD, the tendency of a weakening dollar remains intact, both technically and fundamentally.
The Dow lost points 78 41 or 0.72%, S & P 500 fell 9.21 points or 0.80% and the Nasdaq fell 26.23 points, or 1.11%.
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