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AUDJPY has been rising since July 10th. And it has been rising for more than ten days, a long period right? So, could the reversal on July 22ed change the situation?
This reversal could be a retracement of the upward trend.
From the Fibonacci, we can see that the price went down to around 0.618 level, which could be a good support area . Then, the price started to fluctuate, with no clear trend.
The MACD does not show a specific signal, however, we can still observe a cross that has the blue line on top. This indicates that we could be in a mild way of going up.
Let’s expect the price to up in next few days.
This reversal could be a retracement of the upward trend.
From the Fibonacci, we can see that the price went down to around 0.618 level, which could be a good support area . Then, the price started to fluctuate, with no clear trend.
The MACD does not show a specific signal, however, we can still observe a cross that has the blue line on top. This indicates that we could be in a mild way of going up.
Let’s expect the price to up in next few days.
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