FX.co ★ AUDJPY push up towards descending trendline resistance!

AUDJPY holding above moving average support and 23.6% Fib retracement. MACD is above 0 as well showing room for further bullish momentum. A short term push up towards 1st resistance at 76.200 can be expected.

Trading Recommendation

Entry: 75.504

Reason for Entry:

23.6% fib retracement, moving average

Take Profit : 76.200

Reason for Take Profit:

-27.2% fib retracement, 61.8% Fib extension, descending trendline resistance

Stop Loss: 74.950

Reason for Stop loss:

50% Fib retracement ,Recent swing low