AUDJPY: Buy signal

8 Jan

AUDJPY is neutral on its 1D technical outlook (RSI = 51.262, MACD = -0.010, ADX = 30.583) as it has been trading around its 1D MA50 for the last three weeks. We are currently on the bullish wave after the Channel Up made a HL on the 1D MA200, which is the long term Support (since June 2nd 2023). We are going long on today's pullback and target the R1 level (TP = 98.635).

See how our prior idea has worked:

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