OctaFX | OctaFX Forex Broker
Open trading account
Back

AUD/JPY RSI warns of a completion of an impulsive wave

Aside from the bullish signature taken from a 4hr chart, where the 50- and 200-period moving averages are well distanced from each other, this overextended upward movement can be seen as an opportunity to lighten up positions.

A recent rip higher in the spot rate has pushed the RSI above the 75% level. In Elliott terms, this technical event is often associated with 5th waves, prior to the development of a corrective phase. The AUD/JPY spot would have to gravitate towards the 50 SMA at a minimum to alleviate immediate upside pressures.

USD/HUF Bulls are losing momentum

USD/HUF Bulls are losing momentum
Read more Previous

RUB: Positive outlook - Deutsche Bank

According to analysts from Deutsche bank, the Russian ruble could appreciate over the next 12 months, against the euro and the US dollar, despite the stabilization at low levels of crude oil prices.
Read more Next
Start livechat