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FX.co ★ AUDJPY is approaching support, potential bounce

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Forex Analysis:::2020-08-20T10:09:53

AUDJPY is approaching support, potential bounce

AUDJPY is approaching support, potential bounce

Price is approaching our first support in line with our 61.8% fibonacci retracement and the ascending trendline , where we could see a bounce above this level. Ichimoku is showing signs of bullish pressure as well.

Trading Recommendation

Entry: 76.06

Reason for Entry:

61.8% fib retracement, ascending trendline

Take Profit: 76.79

Reason for Take Profit:

Horizontal swing high

Stop Loss: 75.24

Reason for Stop Loss:

78.6% fib retracement

Analyst InstaForex
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