AUDJPY is approaching our first resistance at 82.13 (horizontal swing high resistance, 61.8%, 100% Fibonacci extension, 38.2% Fibonacci retracement) and a strong reaction might occur below this level, pushing price down to our major support at 80.48 (horizontal swing low support). A breakout below our intermediate support at 80.81 (horizontal swing low support, 100% Fibonacci extension) might provide the bearish acceleration to our major support level.
RSI (55) is also approaching our resistance line and we might see a corresponding drop 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 approaching our resistance line and we might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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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.
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.