AUDJPY reacting above ascending trendline support! Further rise incoming

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AUDJPY holding and reacting above ascending trendline support. A further push up above 1st support at 84.535 towards 1st resistance at 84.991 could be possible. Technical indicators are bullish as well.

Trading Recommendation

Entry: 84.535

Reason for Entry:

38.20% Fibonacci retracement, Ascending trendline support

Take Profit: 84.991

Reason for Take Profit:

-27.20% Fibonacci retracement

Stop Loss: 84.398

Reason for Stop Loss:

61.8% Fibonacci retracement

The material has been provided by InstaForex Company - www.instaforex.com

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