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Aud/jpy

Posted on the 22 October 2019 by Merks50

AUD/JPY intraday: the upside prevails as long as 74.48 is support
Our pivot point is at 74.48.
Comment:
the RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the pair is trading above both its 20 and 50 MAs (respectively at 74.61 and 74.59).
Alternative scenario:
the downside breakout of 74.48 would call for 74.26 and 74.12.
Our preference:
the upside prevails as long as 74.48 is support.