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NZD/JPY intradayOur pivot point is at 70.77. Our preference: the upside prevails as long as 70.77 is supported. Alternative scenario: the downside breakout of 70.77 would call for 70.49 and 70.33. Comment: the RSI is above 70. It could mean either that the pair is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the pair is above its 20 and 50 MAs (respectively at 70.83 and 70.54).
Long
by FEDTMBILLIONAIRESCLUB
AUD/JPY intraday sellOur pivot point stands at 73.64. Our preference: the downside prevails as long as 73.64 is resistance. Alternative scenario: the upside breakout of 73.64, would call for 73.93 and 74.11. Comment: the RSI is trading below 30. This could mean that either the pair is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is negative and below its signal line. The configuration is negative. Moreover, the pair stands below its 20 and 50 MAs (respectively at 73.62 and 73.76).
Short
by FEDTMBILLIONAIRESCLUB