FX.co ★ AUDJPY bounced from (Intermediate) support, potential for a further rise!

Price holding above moving average and ascending trendline support. A further push up above intermediate support at 78.091 towards 1st resistance at 78.462 can be expected. As long as price holds above 1st support, bullish idea remains intact.

Trading Recommendation

Entry: 78.091

Reason for Entry:

38.2% Fibonacci retracement, ascending trendline support

Take Profit: 78.462

Reason for Take Profit:

Graphical swing high

Stop Loss: 77.865

Reason for Stop Loss:

61.8% Fibonacci retracement