AUDJPY is priced at 92 at the moment and has the potential to tap at the support level of the support at the price of 91.50. The trend is bullish and the market has the potential to continue moving up further, beyond the previous high, making another impulse bullish move.

The descending trendline has broken out for buys and the market has validated that with the opening and closing of the candles above the trendline.

The retracement level of 61.8% is in confluence with the support level. This needs to be respected in order for the market to continue moving up.

EMA 50 is still in a ranging mood, hovering above and below the EMA 50. Unless, it breaks past the EMA 50, the cannot determine a solid direction for the move.

RSI is at 52. It needs to be neutralized at the 50 level, which will be aligned with the technical factors of the chart. 

AUDJPY moving towards the bullish side

Mar 02 2023