AUDJPY TECHNICAL ANALYSIS
Updated
Audjpy has experienced strong bullish momentum for the past few months and has hit highs last seen in 2015.
Price recently bounced off the monthly resistance, it's overbought on the weekly timeframe with bearish divergence on the daily timeframe, all these indicating a strong pullback may happen in May.
Based on the Fibonacci retracement tool, the first target is the 38.2 level at 88.270.
Price recently bounced off the monthly resistance, it's overbought on the weekly timeframe with bearish divergence on the daily timeframe, all these indicating a strong pullback may happen in May.
Based on the Fibonacci retracement tool, the first target is the 38.2 level at 88.270.
Trade closed: target reached
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