AudJpy still in the uptrend
Hi traders, Currently, we are still holding the AUDJPY pair with buys and anticipation that the pair is still due to rise as we come closer to the last quarter of the year. The current outlooks is as follows: If Price on AUDJPY holds and ranges at Current market price (89.17) we shall see a pullback to the 87.75 level before it is likely to break much higher than last weeks highs. Otherwise, if today closes higher than last weeks highest price then we can see a strong move to the upside but can not rule out a half decent pullback regardless. Outlook on trading view: https://www.tradingview.com/chart/AUDJPY/K5FHX153-AUDJPY-view-18th-of-September-2017/
Previous Update AUDJPY pair has started to add gains to this year by attempting to break above the July 2017 highs.
Technically speaking the pair is already in a higher timeframe longterm uptrend, however if we see a stalling at the current highs we can expect a pullback before AJ continues any further up.
We have three main areas to consider taking profits:
July 2017 highs coupled with prices stalling (current market price).
Price stalling at 90.150 region.
Trend line channel highs at 91.930 region.
