AUDJPY bounced off major support, potential rise!
AUDJPY bounced off its major support at 83.35 (horizontal overlap support, 38.2% Fibonacci retracement, 100% Fibonacci extension). A strong reaction could occur at this level, pushing price up to our next major resistance at 84.56 (horizontal swing high resistance, 38.2% Fibonacci retracement, 61.8% Fibonacci extension).
Stochastic (55,3,5) is also approaching its major support at 5% and a corresponding rise in price might occur should it bounce off this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (55,3,5) is also approaching its major support at 5% and a corresponding rise in price might occur should it bounce off this level.
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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