AUDJPY Weekly Forex Forecast 1st December to 7th 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 83.10 breaks.
If the support at 78.65 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:

The RSI resistance #1 at 62 is broken, so the probability of beginning of uptrend is increased.
While the RSI uptrend #2 is not broken, bullish wave in price would continue.
A trough is formed in daily chart at 81.20 on 11/21/2018, so more gains maximum to Major Resistance (83.10) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 61.

Share This