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Australian Dollar / Japanese Yen
Long

AUDJPY bounced nicely off its support, potential to rise further

By ICmarkets
Broker
AUDJPY bounced nicely from its support where it could potentially rise further to its resistance at 83.40 (61.8% Fibonacci retracement). There is however an intermediate resistance at 83.01 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap resistance) that we have to be cautious about.
Stochastic (89, 5, 3) bounced nicely off its support at 1.06% where it has a lot of upside potential.
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ICmarkets
Broker
IC Markets is an online forex broker specialized in providing transparent trading solutions to both retail and institutional investors alike. We provide superior execution technology, lower spreads and unrivaled liquidity.
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