Currency pair analysis: AUD/JPY
The overall trend is downward. The currency pair trades in the range of 365 and 135 moving averages. The ascending wave pattern is truncated. A bearish divergence has formed on the Awesome Oscillator, while the Stochastic Oscillator signals overbought conditions.
AUD/JPY rate online: monitor the price movement in real time.
Trading idea:
Sell when a descending wave pattern is formed, where the wave (A) breaks through the inclined channel of the truncated ascending pattern.
Stop Loss: above the local maximum of the ascending pattern.
Target levels: 82.20; 81.80.
