DAILY SPOT AUDJPY - Tuesday's call and technicals
Against a background of bullish signals on the week, Monday saw sentiment post a 2nd higher daily low & high in a row and a gain of ¾ Big Fig. Although this has taken prices above their 50 day average rate, the 100 day average, a level which has capped sentiment throughout this year, has attracted sellers in Asia. With intraday signals weakening and with further resistance at 79.85, February’s 2019 top, the outlook for Tuesday is bearish and the call is to sell on the open and then at 79.20, today’s opening trade in Asia with a stop loss at 79.85, February’s top. Targets are to 78.56/68, this week’s low & the 13 day average rate, 78.25, Friday’s base and 77.91, Thursday’s low trade.
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