AUD/JPY is testing downtrend resistance established in November, with a potential retest of the 50DMA in play. Momentum indicators, including RSI (14) and MACD, are flashing bullish signals, favouring an upside bias near-term.
If we see a break of the downtrend and minor horizontal support at 95.35, longs could be established above the latter with a stop beneath for protection. The 50DMA has repeatedly capped bullish attempts recently, making it a key hurdle—those entering should be prepared to cut if the price fails to break and close above it.
If cleared, 97.33 emerges as a potential target, with 97.96 and 99.10 as other topside levels to watch. A failure to sustain the breakout would invalidate the bullish bias.
Good luck!
DS
If we see a break of the downtrend and minor horizontal support at 95.35, longs could be established above the latter with a stop beneath for protection. The 50DMA has repeatedly capped bullish attempts recently, making it a key hurdle—those entering should be prepared to cut if the price fails to break and close above it.
If cleared, 97.33 emerges as a potential target, with 97.96 and 99.10 as other topside levels to watch. A failure to sustain the breakout would invalidate the bullish bias.
Good luck!
DS
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.