FxWirePro:AUD/JPY retreats from higher levels, good to sell on rallies
AUD/JPY has made a low of 81.89 yesterday and recovered till 86.83 (Kijun-Sen) today morning and started to retreat from that level. It is currently trading at 85.57. Overall trend is still bearish as long as kijun-Sen 8…
AUD/JPY has made a low of 81.89 yesterday and recovered till 86.83 (Kijun-Sen) today morning and started to retreat from that level. It is currently trading at 85.57.
Overall trend is still bearish as long as kijun-Sen 86.68 holds. Any break above 86.68 will take the pair to next target at 87.29/88.40.
On the downside 85 is acting as short term support and break below will drag the pair further down till 84.44/81.90.
It is good to sell on rallies around 85.80-90 with SL around 86.70 for the TP of 84.50/81.90.
