(90,91) The AUD/YEN confirmed with yesterday’s closing a double bottom at 86,40 suggesting a possible rally toward a potential target at 93,83!! The move up will be corrective. The indicators of the daily chart are already well positive supporting higher levels. The indicators of the s/t charts are also positive with bearish divergences confirming a positive tone. However, slightly overbought conditions could limit a direct extension of the move up from the present levels favouring a correction that we suggest buying. We wait for a possible return below 90,00 to go long!
Read the full report: AUDJPY 09.04
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