AUDJPY – February Marabuzo level holds the key

There is no clear indication that the rally has come to an end. Bespoke resistance is located at 85.00, closer to the February Marabuzo.

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AUDJPY - February Marabuzo level holds the key
Monthly: Holding within an Expanding Wedge formation than has a bias to eventual break to the upside. The Ichimoku Cloud stalled rallies on three occasions in 2017. Strong selling pressure in February has left a Marabuzo level at 85.36 (half the nett losses from 87.94 to 82.78) Weekly:  Holding within a bearish channel formation. We have seen a reaction higher from the 161.8% extension leve...