AUDJPY near trend line support

26 May 2021

AUDJPY is trading in a higher top higher bottom formation suggesting the trend to be bullish in the near term; the pair has rebounded after taking support at the upward sloping trend line indicating buying at lower levels. RSI in buy mode corroborates the above observation and indicates further upside potential. It is likely that AUDJPY could rise further towards 85.25 and 85.75 while it sustains above 84.00.

Prepared by
Technical Analysis Team

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