AUDJPY – near upward sloping trend line
AUDJPY has been trading in a higher top higher bottom formation suggesting the trend to be bullish in the medium term; recently the pair has experienced some correction and stands at the support of the upward sloping trend line suggesting rebound in the offing. RSI has turned up corroborating the above observation and indicating further upside potential. It is likely that AUDJPY could rise towards 83.80 and 84.30 while it sustains above 82.80.
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Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
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