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FxGrow Daily Technical Analysis – 08th Sept, 2015
By FxGrow Research & Analysis Team
AUDJPY it's time for a rebound
In July and August AUDJPY moved in consolidation between the levels of 89.15 - 92.65. Break below pointed minimum of 24 August triggered a sharp move down. On the same day AUDJPY started to rebound, which achieved 50% of last downward move. August 24th bottom at the level of 82.00 was tested again last Friday. Rebound can be weak and successful pressure of the bears on level 82.00 will move down to the next support of 79.50.
Alternatively, if the bears will not aggressively push this rebound may come to the last resistance level at 87.30 and only there return to the declines.
Time-frame H1
For two weeks AUDJPY is moving in a downward channel. The lower limit of the channel was tested on Friday and rebounded. Today AUDJPY broke above upper limit of the channel. If this break was fakey last minimums will be again under pressure of sellers.
For more in depth Research & Analysis please visit FxGrow.
Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.
By FxGrow Research & Analysis Team
AUDJPY it's time for a rebound
In July and August AUDJPY moved in consolidation between the levels of 89.15 - 92.65. Break below pointed minimum of 24 August triggered a sharp move down. On the same day AUDJPY started to rebound, which achieved 50% of last downward move. August 24th bottom at the level of 82.00 was tested again last Friday. Rebound can be weak and successful pressure of the bears on level 82.00 will move down to the next support of 79.50.
Alternatively, if the bears will not aggressively push this rebound may come to the last resistance level at 87.30 and only there return to the declines.
Time-frame H1
For two weeks AUDJPY is moving in a downward channel. The lower limit of the channel was tested on Friday and rebounded. Today AUDJPY broke above upper limit of the channel. If this break was fakey last minimums will be again under pressure of sellers.
For more in depth Research & Analysis please visit FxGrow.
Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.