Mon, Jun 21, 2021 @ 22:58 GMT
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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.

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