After half a day AUDJPY is only 10 pips up not great!
AUDJPY advanced considerably on Friday, jumping above the sideways channel of 77.40 – 79.80 and posting a new four-month high around 80.50. Ichimoku indicators are raising neutral flags as the red Tenkan-sen line is above the blue Kijun-sen line but failed to signal a direction. On the other hand, the RSI and the stochastic are pointing down in the positive area, suggesting bearish correction. Should prices decline, immediate support could be found around 79.80, an area which has provided as strong resistance in the preceding four months. Then a leg below that level, the pair could meet the 20-and 40-simple moving averages (SMAs) ... (full story)