AUDJPY
The market broke through the support zone of 77.772 - 77.525 at the beginning of last month and we have now found support on the weekly level of 75.383.
We are expecting a pull back to retest the previous support zone of 77.525 which we think will now become resistance, also this level falls perfeclty on the 50 Fib from the previous high of 80.779 to the low of 75.032.
There is some high impact JPY data released at 00:50 so will be waiting for potential entries until this has passed.
The market broke through the support zone of 77.772 - 77.525 at the beginning of last month and we have now found support on the weekly level of 75.383.
We are expecting a pull back to retest the previous support zone of 77.525 which we think will now become resistance, also this level falls perfeclty on the 50 Fib from the previous high of 80.779 to the low of 75.032.
There is some high impact JPY data released at 00:50 so will be waiting for potential entries until this has passed.