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AUDJPY approaching support, potential bounce!
Price is approaching our first support at 82.10 (horizontal pullback support, 100% Fibonacci extension , 38.2% Fibonacci retracement , short term ascending support line) where a strong bounce might occur above this level pushing price up to our major resistance at 83.18 (horizontal swing high resistance 61.8% Fibonacci extension , 61.8% Fibonacci retracement ).
Stochastic (34,5,3) is also approaching support and we might see a corresponding rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (34,5,3) is also approaching support and we might see a corresponding rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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