Get started
easyMarkets

AUDJPY approaching support, watch for breakout!

Short
Australian Dollar / Japanese Yen (FX:AUDJPY)  
easyMarkets Broker  
FX:AUDJPY   Australian Dollar / Japanese Yen
Trend Analysis Harmonic Patterns Chart Patterns AUDJPY aud jpy audjpylong audjpyshort forextrading forexsignals
2
0
trendanalysis harmonicpatterns chartpattern audjpy aud jpy audjpylong audjpyshort forextrading forexsignals
AUDJPY is approaching our first support at 82.69 (horizontal overlap support, 38.2% Fibonacci retracement). A breakout below this level might trigger a strong reaction pushing price down to our major support at 81.90 (horizontal overlap support, 61.8% Fibonacci retracement). Ichimoku cloud is also showing signs of bearish pressure, in line with our bearish view.

RSI (89) is also seeing a bearish exit 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.
Come join us today at : www.easymarkets.com/
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.