EUR/AUD Is Bearish

Despite the two spinning top candlesticks on the weekly time-frame above the support at 128.80, which coincides with the (MA)89 indicator on that time-frame EUR/JPY continued moving to the downside and broke out below the aforementioned support level. What is more, the pair has also broken out below the (MA)89 indicator on the monthly time-frame. Considering that the pair is very likely to continue moving to the downside next week. Next target will probably be around 127.00 – 126.00, and if it breaks out below those levels it will likely continue moving towards the last low, which is at 122.30, but that is obviously a long-term target.