AZAforex
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Trading recommendation on AUDJPY 31.05.16
The Australian Dollar is doing another attempt to change its rate against the Japanese Yen. This currency pair in the Forex market the last time was in range, but now the bulls are determined. The price only keeps the resistance level of 80.70. Typically, such figures on the chart indicate the fracture rate, therefore, when the penetration level of join the traders who buy the dollar.
The price is above a simple moving average 20 MA indicating bullish trend.
The MACD trend indicator is above zero level now, indicating bullish movement.
If the resistance level is broken you can use the following recommendation:
• Chart timeframe: H4
• The trade recommendation: Buy
• The level of entry into long position: 80.70
• The level of profit and close the position: 81.70 (100 pips)
The Australian Dollar is doing another attempt to change its rate against the Japanese Yen. This currency pair in the Forex market the last time was in range, but now the bulls are determined. The price only keeps the resistance level of 80.70. Typically, such figures on the chart indicate the fracture rate, therefore, when the penetration level of join the traders who buy the dollar.
The price is above a simple moving average 20 MA indicating bullish trend.
The MACD trend indicator is above zero level now, indicating bullish movement.
If the resistance level is broken you can use the following recommendation:
• Chart timeframe: H4
• The trade recommendation: Buy
• The level of entry into long position: 80.70
• The level of profit and close the position: 81.70 (100 pips)
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