AUDJPY is approaching support, potential bounce!
AUDJPY is approaching our first support at 83.31 (horizontal overlap support, 23.6%, 50% Fibonacci retracement, 100% Fibonacci extension) which coincides with our short term ascending support line. A strong bounce might occur above this level, pushing price up to our major resistance at 84.07 (horizontal swing high resistance).
Stochastic (34,5,3) is also approaching our major support and a bounce off this level might be a good precursor for a potential rise in price.
Trading CFDs on margin carries high risk.
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Stochastic (34,5,3) is also approaching our major support and a bounce off this level might be a good precursor for a potential rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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