AUDJPY bears resume unerringly at 50% & 21-EMA with (refer monthly plotting).
In 8-9 months of consolidation pattern has spiked from the lows of 72.437 levels (Jun’16 lows), for now, bulls seem to be exhausted at 50% of Fibonacci retracements.
As you could probably make out the upswings on monthly plotting have exactly rejected at around 87.605 levels (i.e. 50% levels).
As a result, a is occurred at 84.249 levels at this Fib. level and attempting slide below 21EMA, that is where the leading oscillators ( ) is also sensing some sort of resistance at 65 levels, you observe the leading indicator gaining or struggling for strength in trend at this juncture (refer monthly plotting).
Same has been the case with curves that evidence the %D crossover right from the overbought zone (refer weekly plotting).
also substantiates the similar impact in the weeks to come.
Trade tips: – Tunnel spread is the best choice of speculation in going price declines.
Well, contemplating above technical reasoning, on speculative grounds we advise tunnel spreads which are binary versions of the debit put spreads favoring indications.
This strategy is likely to fetch leveraged yields than spot FX and certain yields keeping upper strikes at 84.9554 and lower strikes at 84.400 levels.