FX.co - AUDJPY pulling back to the trendline, potential for a bounce !

2020-09-30T14:37:09

Relevance until2020-10-01

AUDJPY is pulling back to the ascending trendline and 1st support where the 61.8% fib retracement is.

Price could bounce there towards our 1st resistance. Ichimoku also indicates that further upside could be seen from here.

Trading Recommendation

Entry: 74.64

Reason for Entry:

61.8% fib retracement , ascending trendline

Take Profit: 75.46

50% fib retracement , horizontal swing high

Stop Loss: 73.99

Reason for Stop Loss:

Horizontal swing low

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Dean Leo

FX.co ★ AUDJPY pulling back to the trendline, potential for a bounce !