AUD/JPY Is in an Uptrend, May Breach the Resistance at Level 74.500

AUD/JPY Is in an Uptrend, May Breach the Resistance at Level 74.500

Key Resistance Zones: 74.000, 76.000, 78.000
Key Support Zones: 66.000, 64.000, 62.000

AUD/JPY Long-term Trend: Bullish
AUD/JPY pair is presently in an uptrend. The pair is rising as it breaks above the EMAs. A correction candle body tested the 0.382 Fibonacci retracement level. It indicates that the pair will rise and reached level 2.618. However, the pair will reach the first target at level 1.618 Fibonacci retracement level. Later it will reach the second target at the level.

AUD/JPY – Daily Chart

Daily Chart Indicators Reading:
Presently, the pair has risen to level 60 of the Relative Strength Index period 14. It implies that AUD/JPY is on an upward move above the centerline 50. The 21-day SMA and the 50-day SMA are sloping upward. It indicates the uptrend.

AUD/JPY Medium-term Trend: Ranging
On the 4- hour chart, the price is fluctuating between levels 73 and 75. The pair is rising and approaching the high of level 75. In recent times the upward move has been facing resistance at a level 74.500.

AUD/JPY – 4 Hour Chart

4-hour Chart Indicators Reading
The market is presently above 70 % range of the daily stochastic. This implies that the pair is in bullish momentum. The 21-day and 50-day SMA are sloping horizontally indicating the sideways trend.

General Outlook for Italy AUD/JPY
The currency pair is rising to reach the upper price at level 75. Presently, it is facing resistance at level 74.500. AUDJPY will move up if it breaks the minor resistance at level 74.500.


Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
Share with other traders!