Hello everyone, today, Friday, December 16, 2022, on the last day of the market, we want to check the currency pair of the Australian dollar and the Japanese yen.
This currency pair, which was in a descending triangle some time ago, now has signs of rising in the 6-hour time frame, which we count. The price was able to change the price trend by hitting the middle ceiling of the 4-hour time frame, i.e. 93.13, and then it will have a deep correction up to 88% Fibo. To stop gathering among buyers, the price can change from the very important range of 91.4 It will start its rise again after collecting the stop below the shadows, but this time the price target is bigger ceilings due to the change of the trend model, which can reach the prices of 94 and 94.5, where there are also important sell orders. “If the important support of 91 is maintained, this scenario can be witnessed, but as soon as this level is lost, it can continue its previous trend completely downward” . Have a nice holiday .
