AUD/JPY intraday: the RSI is overbought

Trading Central 2021-02-22 08:00:06

Our pivot point stands at 82.88.

Our preference: as long as 82.88 is support look for 83.70.

Alternative scenario: below 82.88, expect 82.64 and 82.49.

Comment: the RSI is above 70. It could mean either that the pair is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 83.01 and 82.58). Finally, the AUD/JPY is trading above its upper Bollinger band (standing at 83.18).

Supports and resistances:

83.98 **

83.84 *

83.70 **


83.23 last


82.88 **

The trading strategy containing reference trading prices and analysis opinions is provided by the third-party provider Trading Central.And the trading strategy is only the personal research and judgment by analysts,which is not a statement of facts.No representation or warranty is given as to the accuracy or completeness of this strategy. Consequently any person acting on it does so entirely at their own risk. TOP1 accepts no responsibility for any use that may be made of these comments and for any consequences that result.

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