AUDUSD vs. HSIKeep in mind that inflation didn’t fall to 2.3%, but rather came in at 2.4%. This could mean that speculators expect fewer rate cuts from the Fed, and if that’s the case, it may limit the upside on stocks. Consequently, yen crosses, including AUD/JPY, could experience notable reversals to the downside.Looking at the 4-hour timeframe, there’s a clear ABC rally up to the 101 level, which appears to be strong resistance. Be prepared for a potential sell-off in the next few days or weeks. If we see a drop towards 97 and a break through the lower trendline support, much more downside could be on the way for AUD/JPY.
AUDJPY 4H ChartFor updates visit us at wavetraders.com and get first two months for price of 1.More By This Author:Palantir Is In A Massive Rally PepsiCo Is Finishing A Bullish Triangle
USDollar Is In Higher Degree Recovery Mode
