AUDJPY is approaching support, potential bounce!
AUDJPY is approaching our first support at 82.26 (horizontal overlap support, 61.8% Fibonacci retracement) which coincides with our short term ascending support line. A strong bounce might occur above this level, pushing price up to our major resistance at 82.91 (horizontal swing high resistance, 100% Fibonacci extension, 50% Fibonacci retracement). A breakout above our intermediate resistance at 82.60 (horizontal swing high resistance, 61.8% Fibonacci extension) might provide the bullish acceleration to our major resistance level.
RSI (55) is also seeing a bullish exit and is bouncing off our major support where we might see a corresponding rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
RSI (55) is also seeing a bullish exit and is bouncing off our major support where we might see a corresponding rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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