As we could read in yesterday’s article AUDUSD completely followed the analysis dropping to 0.6940 after hitting POC at 0.7040. 100 pip drop was not a surprise for me as there are always important inter market correlations which are shaping up the currency move.
USDJPY has prone to both USD and JPY announcements and strongly correlated to NIKKEI index. Japan’s trade balance showed a deficit of 271.5b Yen in November which was higher than expected 158.7b. Technically USDJPY is under the influence of Bullish Divergence which rallies the pair towards POC (61.8,EMA89) but we can see that stronger POC waits in the 118.25-40 zone ( H3,DPP,78.6). A rejection from POCs (I’d personally prefer POC2) targets ex channel top 117.60 and only a break of double bottom 117.18 will target 116.60.
The analysis and the article presents Nenad's opinion. Remember, financial trading is highly speculative & may lead to the loss of your funds. Proper risk management is the Holy Grail of trading.
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