AUDJPY 96.55: Rising triangle breakout projects higher
AUDJPY broke out of a rising triangle consolidation pattern on the upside, extended the strong rebound off the 90.46 higher low (April 15, 2015) to retrace over 50% of the 102.83/89.36 fall. Further gains open the 98.29 lower high (December 29, 2014, near 61.8% retracement of the 102.83/89.36 fall) ahead of 99.66 (76.4% retracement of the 102.83/89.36 fall). Immediate support level lies at 94.45 (May 11, 2015 intraday low). Below rests the 93.55 higher low (May 5, 2015).
Outlook:
Short term: bullish
Long term: neutral
Outlook:
Short term: bullish
Long term: neutral
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.