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AUD/JPY MACD higher lows indicates upside ahead

A run of AUD/JPY MACD higher highs and lows, could imply a shift in sentiment ahead.

In recent weeks, the pair has suffered declines, but in the short term at least, we could experience a move to bullish sentiment. This is highlighted by the MACD posting higher highs and lows on the 4-hour chart. At the same time, price action is posting lower lows, which should indicate that spot has bottomed out for the time being.

CFTC speculative positioning summary - ANZ

Analysts at ANZ explained that leveraged funds increased their net long USD positioning by USD2.1bn to USD17.6bn in the week ending 29 September.
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AUD/JPY bulls in control on a strong recovery

AUD/JPY is currently trading at 84.87 with a high of 84.92 and a low of 84.51.
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