FxWirePro: 5-DMA caps topside in AUD/JPY, further upside can be seen on breaks above
AUD/JPY downside was rejected at lows by 80.88 in Monday's trade, the pair then saw a good bounce to 83.0 levels which is 78.6 % Fib of 90.72 to 80.88 fall. Out Target Price 1 was acheived (http://www.econotimes.com/FxWi…
AUD/JPY downside was rejected at lows by 80.88 in Monday's trade, the pair then saw a good bounce to 83.0 levels which is 78.6 % Fib of 90.72 to 80.88 fall.
Upside in the pair was however capped by 5-DMA which is still good resistance on the topside, currently 5-DMA is at 82.44, further upside could be seen on break above.
Recommendation: Hold for further gains to 83.90, raise stops to 81.40
