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AUD/JPY intraday: the RSI is oversold
2023-10-19
1177
Our pivot point stands at 94.75.
Our preference: the downside prevails as long as 94.75 is resistance.
Alternative scenario: above 94.75, look for 95.11 and 95.32.
Comment: the RSI is below 30. It could either mean that the pair is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 94.86 and 95.15). Finally, the AUD/JPY is trading below its lower Bollinger band (standing at 94.44).
Supports and resistances:
95.32 **
95.11 *
94.75 **
94.60
94.36 last
93.88
93.67 **
The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.
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