AUD/JPY momentum turns bullish, go long for 77.65
AUD/JPY trades with a bullish bias.
The pair has broken major trendline resistance on Monday.
We have seen a break above 20-DMA on the day.
Stochs have rolled over from oversold territory. RSI is biased north.
MACD shows a bullish crossover on signal line and CCI has edged above zero.
We see weakness on break below 76.80 (trendline resistance turned support).
Upside scope till 50-DMA at 77.64, break above could see test of 78 levels.
Good to go long on dips around 77.25, SL: 76.80, TP: 77.65, 78/ 78.18
The pair has broken major trendline resistance on Monday.
We have seen a break above 20-DMA on the day.
Stochs have rolled over from oversold territory. RSI is biased north.
MACD shows a bullish crossover on signal line and CCI has edged above zero.
We see weakness on break below 76.80 (trendline resistance turned support).
Upside scope till 50-DMA at 77.64, break above could see test of 78 levels.
Good to go long on dips around 77.25, SL: 76.80, TP: 77.65, 78/ 78.18
Trades with a strong bullish bias.
Book partial profits. Stay long.