AUDJPY has risen sharply from 24th of September after hitting a low of 73.96 to register a high of 76.54 on 9th October; it is also trading above the 20-day SMA. The cross pair has however faced resistance near 76.54 and has declined owing to the strength in Yen and currently stands at the support of 20-day SMA indicating a rebound in the offing. The pair could rise to test levels of 75.75 & 76.00 on the upside while it sustains above 75.15.
Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.