AUDJPY analysis 26.11.2020

Analysis based on round-number levels, price channels and modified Elliot Waves

AUDJPY

The resistance level of 77.08 holds back buyers. The ascending H8 level pattern is truncated. The internal H2 level pattern is also truncated. A bearish divergence is forming on Awesome Oscillator, while Stochastic Oscillator indicates an overbought condition.

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Trading recommendations:

Sell as a descending wave pattern is formed, where the wave A breaks through the inclined channel of the ascending truncated H2 level pattern.

Stop Loss: beyond the support level of 77.08.

Target levels: 76.11; 75.40; 74.20.