Technicals

Add as a preferred source on Google

FxWirePro: AUD/JPY sees major resistance at 83.60, buy breakout above, target 85

AUD/JPY has broken above strong trendline resistance at 81.90 and is on track for test of major resistance at 83.60 levels. A breakout above will target 85 levels and further bullishness could take it to 86. Immediate su…

1 min read
FxWirePro: AUD/JPY sees major resistance at 83.60, buy breakout above, target 85
Image from the original EconoTimes article

Read the original article

  • AUD/JPY has broken above strong trendline resistance at 81.90 and is on track for test of major resistance at 83.60 levels.

  • A breakout above will target 85 levels and further bullishness could take it to 86.

  • Immediate support and resistance are located at 82.62 (session lows) and 83.60 (trendline).

  • Our previous call for AUD/JPY (http://www.econotimes.com/FxWirePro-AUD-JPY-breaks-trendline-resistance-at-8190-test-of-8360-likely-171055) is approaching targets.

  • We are long from 81.90 levels, book partial profits, good to hold for further upside, raise trailing stops to 82.70 (cloud base).

  • Fresh longs can be initiated on breakout above 83.60, SL: 82.70, TP: 84/84.80/85

Related articles

View all
Technicals

Major Pair Currency Score: AUDUSD Bearish

EURUSD - Levels to watch - 1.100 GBPUSD Levels to watch - 1.3180 USDCHF Levels to watch - 0.8400 USDCAD - Levels to watch - 1.4300 AUDUSD - Levels to watch - 0.7000 NZDUSD - Levels to watch - 0.5560