Chart of the Day -AUDJPY- (Nov. 6th 2018)

13th November 2018 Off By binary
Chart of the Day -AUDJPY- (Nov. 6th 2018)

AUDJPY is challenging down channel resistance ahead of the US Mid Term Elections.

The AUDJPY is closing the session at channel resistance which will be a “make it or break it” level for the pair. The key 61.8% Fibonacci level resistance is at 82.22 which will be key for the bulls to close above tomorrow. If rejected tomorrow the downtrend will remain in tact and a possible move back below the 81.00 level is likely.

The US Mid Term Election results will be due later in the Asian session for November 7th, and the reason for the rejection or breakout will probably be a result of the election race.

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Blake Morrow

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