FX.co ★ AUDJPY approaching ascending trendline support! Bounce incoming!

AUDJPY is approaching ascending trendline support and 61.8% Fibonacci retracement. A short term bounce about our 1st support at 84.531 towards graphical swing high and 1st resistance at 85.171 could be possible. RSI is also approaching support where price bounced in the past as well.

Trading Recommendation

Entry: 84.531

Reason for Entry:

61.8% Fibonacci retracement, ascending trendline support

Take Profit: 85.171

Reason for Take Profit:

Graphical swing high resistance

Stop Loss: 84.307

Reason for Stop Loss:

Graphical swing low support