AUD/JPY eyes 110-EMA at 83.85, stay long
AUD/JPY extends 20-DMA breakout, eyes 110-EMA at 83.85
Technical indicators support upside in the pair. RSI shows strength above 60 and Stochs are sharply higher.
Next bull target lies at 110-EMA at 83.85. Breakout there will see test of 50% Fib at 84.78.
On the flipside, break below 20-DMA could see test of trendline support at 80.90.
Support levels - 82.87 (5-DMA), 82.40 (50-DMA), 82.45 (20-DMA)
Resistance levels - 83.85 (110-EMA), 84, 84.24 (100-DMA)
Good to go long around 83.30, SL: 82.85, TP: 83.85/ 84/ 84.25
Technical indicators support upside in the pair. RSI shows strength above 60 and Stochs are sharply higher.
Next bull target lies at 110-EMA at 83.85. Breakout there will see test of 50% Fib at 84.78.
On the flipside, break below 20-DMA could see test of trendline support at 80.90.
Support levels - 82.87 (5-DMA), 82.40 (50-DMA), 82.45 (20-DMA)
Resistance levels - 83.85 (110-EMA), 84, 84.24 (100-DMA)
Good to go long around 83.30, SL: 82.85, TP: 83.85/ 84/ 84.25
AUD/JPY buoyed as markets turn risk-pro after Chinese and American negotiators set up a framework to address the trade imbalances.