AUDJPY Daily Outlook 18-08-20 - On Monday we found out that New Zealand has delayed its election because of a new coronavirus outbreak, and that Japan’s economy shrank at a record rate last quarter as the coronavirus pandemic slammed consumption and trade.

Welcome to the Tickmill update, I’m Kiana Danial the founder of the Invest Diva movement. Make sure to subscribe to the Tickmill YouTube channel and support us by liking and sharing this video with your forex trading friends.

On Tuesday we’ll be eyeing the US building permits, Japan’s trade balance, and will follow up on the UK-EU Brexit talks.



Today I’m looking at the AUD/JPY pair which is trying to break above the very strong resistance level of 76.60 as its attempt has failed over and over again since May 2019. The new uptrend seems to be steamy enough that with just a bit of a positive risk event, it could finally set free. Once the break is confirmed, we could expect the pair to hike towards the 78% Fibonacci retracement level of 79.72.

Do you think the pair can finally break out this week? Head over to the comments section and let me know.

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