AUDJPY has been trading in a higher top higher bottom formation suggesting the trend to be positive in the near term, further it is trading above the 20-day SMA supporting the observation. The recent decline experienced seems to be an organic correction and buying is likely to be experienced near current levels. It would be prudent to say that the pair could rise further towards $80.00 and $81.55 if it sustains above $79.75.
Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.