FxWirePro
Long

Strong support for AUD/JPY at 86.20, good to buy dips

FX:AUDJPY   Australian Dollar/Japanese Yen
956 3 19
AUD/JPY             has been trading within a rising channel since Sept 2015

The pair has held baseline support in Friday's trade and edged higher, retrace upto 87.94 (38.2% Fib of 90.72-86.21 fall) likely

RSI on 4H is at 45 and has room to run, Stochs have also rolled over from oversold levels, further gains likely

On daily charts , price action has edged above cloud top at 86.97, with next hurdle on the upside aligned at 87.42 (5 DMA), and immediate minor support at 86.50 and then at 86.20

Recommendation: Good to buy dips around 86.70, SL: 86.20, TP: 87.90
PeriklisTolis
a year ago
thanks mate.very nice analysis
Reply
kinggold
a year ago
Nice analysis
+1 Reply
Congratulations! Your chart has been selected to be highlighted as the post of the day. This is a great example of trend analysis using a price channel.
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out