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AUDJPY Weekly Forex Forecast 10th December to 16th December by yshashmi37 on TradingView.com
Midterm forecast:
While the price is above the support 78.65, beginning of uptrend is expected.
We make sure when the resistance at 83.90 breaks.
If the support at 78.65 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:
There is a divergence in RSI and price between the peak at 83.045 on 2018-11-08 and the peak at 83.905 on 2018-12-03, and the probability of beginning of uptrend is decreased.
The RSI uptrend #1 is broken, so the probability of beginning of uptrend is decreased.
A peak is formed in daily chart at 83.90 on 12/03/2018, so more losses to support(s) 81.30, 80.50, 79.60 and minimum to Major Support (78.65) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 45.
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