$AUDJPY tumbles to 95.70 low, Copper headlines dominate
Topic: $AUDJPY tumbles to 95.70 low, Copper headlines dominate
FXStreet (Bali) - AUD/JPY is selling off aggressively in Asia, as news of copper crashing over 8.5% weigh on the pair, which combined with a strong Yen during Tokyo, adds extra pressure, leading the pair to test solid bids around 95.65/70 key support.
Technical analysis - Westpac
"The 2014 top was confirmed by a bearish monthly reversal candle in December, as it was at previous tops above 102 in 2008 and 2013. The 2014 top was accompanied by a negative LT momentum shift. Note that the 5 previous negative LT momentum shifts, since 2008, have pre-empted a material decline (minimum 16%). This bearish backdrop highlights a minimum decline towards 91.80/00 in the coming 4-6 weeks. A weekly close below 95.85 is the next bearish trigger to watch."
NOTE: Hacked or illegal versions of copyrighted Forex robots are highly prohibited on MT4talk.com. If you upload any illegal version of any copyrighted Forex robot, your forum account will be banned. No exceptions.