AUDJPY facing bullish pressure | 28 July 2021
Appears that price is likely to take support and bounce up from the 80.689 level which is in line with the 50% Fibonacci retracement, 127.2% Fibonacci retracement as well as the horizontal overlap resistance. Price is expected to rise until the horizontal swing high at 81.516 which is also in line with the 100% Fibonacci extension level. Our bullish bias is further confirmed by how the MACD is holding above the 0 line.
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Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
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