It’s worth paying attention to AUD/JPY. The pair has approached the resistance line connecting April and May highs.
AUD/USD: aussie is overbought
Technical levels: support – 0.7530, 0.7590; resistance – 0.7660
- Sell — 0.7640; SL — 0.7660; TP1 — 0.7590; TP2 — 0.7530.
Reason: expanding bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen with rising Kijun-sen, but narrowing channel Tenkan-Kijun; the market tested Cloud’s resistance on daily timeframe and overbought now.
The way EUR/GBP bottomed around 0.8700, then rose above 0.8870 and jumped from the trendline support at 0.8910 shows that the pair possesses bullish momentum.
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