Mon, Jun 21, 2021 @ 22:58 GMT
HomeContributorsTechnical AnalysisAUD/JPY Bounces From Support

AUD/JPY Bounces From Support

The risk-sensitive Australian dollar rebounds as risk appetite returns. The pair has bounced off the 20-day moving average on the daily chart which coincides with the short-term support at 84.25.

General sentiment remains upbeat as the Aussie carries on the fourteen- month-long rally. Strong momentum above 84.85 points to 85.80 as the next target.

The bullish MA cross is another indication of recovery. As the RSI shows an overbought situation a temporary pullback towards 84.55 is possible.

Orbexhttp://www.orbex.com/en/agent/cl/ccc678cb86b9
At Orbex, we are dedicated to serving our clients responsibly with the latest innovations in forex tools and resources to assist you in trading.

Featured Analysis

Learn Forex Trading