FX.co ★ AUDJPY bounce above trendline support, potential for a further rise!

Price holding above ascending trendline support and also moving average. A further push up above 23.6% Fibonacci retracement and 1st support at 76.560 towards 1st resistance at 77.031 can be expected

Trading Recommendation

Entry: 76.560

Reason for Entry:

Ascending trendline support, Moving average support, 23.6% Fibonacci retracement

Take Profit: 77.031

Reason for Take Profit:

-27.2% Fibonacci retracement

Stop Loss: 76.269

Reason for Stop Loss:

50% Fibonacci retracement