AUDJPY technically has now reach at the key resistant zone 84.50-84.20.
From the D1 perspective, the price may subjected to seller participation to drive the price lower due to overall fundamentally factor.
Best entry sell limit order can be considered at 84.50
SL 84.90,
TP1 83.70, TP2 83.20
AUDJPY has a strong correlation in nature with US stock market (particularly DOW30), thus investor and institution traders likely to sell their on hand stock to put their money in safe heaven currency asset example JPY, USD, CHF.
Key event on Thursday 11pm MYT, FED chair Powell testifies is in focus. During his speech, volatility is expected.
From the D1 perspective, the price may subjected to seller participation to drive the price lower due to overall fundamentally factor.
Best entry sell limit order can be considered at 84.50
SL 84.90,
TP1 83.70, TP2 83.20
AUDJPY has a strong correlation in nature with US stock market (particularly DOW30), thus investor and institution traders likely to sell their on hand stock to put their money in safe heaven currency asset example JPY, USD, CHF.
Key event on Thursday 11pm MYT, FED chair Powell testifies is in focus. During his speech, volatility is expected.