The AUDJPY still negative – Analysis – 17-7-2019

The AUDJPY pair kept its negative stability by providing new close below the initial resistance 76.40, also, the frequent fluctuations within the bearish channel allows us to wait to gather new negative momentum and repeat the pressure on 74.15 level, which breaking it will open the way to attempt to reach the main negative target at 72.70.

The stability of the moving average 55 above the current resistance confirms blocking the price within the negative range, also, stochastic reach to the overbought areas supports getting rid of the positive pressures to increase the chances of gathering the negative momentum for now.

The expected trading range for today is between 76.40 and 74.15

The expected trend for today: Bearish