AUD/JPY Resumes Uptrend, Attempts to Break Level 75.00
Login

AUD/JPY Resumes Uptrend, Attempts to Break Level 75.00

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

Key Resistance Levels: 74.00, 76.00, 78.00
Key Support Levels: 58.00, 60.00, 62.00

AUD/JPY Price Long-term Trend: Bullish
The AUD/JPY pair is still in an upward move. A correction candle body tested the 0.382 Fibonacci retracement level. It indicates that the pair will rise and reach a high of level 2.618. The AUD/JPY will first rise to its first target at the 1.618 Fibonacci extension level. That is level 80.00 high. The second target will be at the 2.618 Fibonacci extension level.

AUD/JPY – Daily Chart

Daily Chart Indicators Reading:
The moving averages have made a bullish crossover. The 21-day SMA crosses over the 50-day SMA. The pair has risen to level 62 of the Relative Strength Index period 14. The market is in the uptrend zone and it is above the centerline 50.

AUD/JPY Medium-term Trend: Bullish
On the 4-hour chart, the pair is in an uptrend. A trend line is drawn showing the support levels of price. The pair is approaching a resistance zone. The price will rise if the current resistance is broken. The resistance at 75.00 has been tested on more than two occasions.

AUD/JPY – 4 Hour Chart

4-hour Chart Indicators Reading
The AUD/JPY pair is currently above 70% range of the daily stochastic. It implies that the index is approaching the overbought region of the market. Sellers are likely to emerge to push prices downward.

General Outlook for AUD/JPY
The AUD/JPY pair is rising but approaches the overbought region of the market. The upward move may be hindered at level 75.00 resistance zone. The uptrend will resume as soon as the resistance level is breached.


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
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 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
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News