AUD/JPY Intraday: the RSI is overbought
Feb 12, 2025 3:30 AM
the upside prevails as long as 96.38 is support.
Our pivot point stands at 96.38.
Our preference:
the upside prevails as long as 96.38 is support.
Alternative scenario:
the downside breakout of 96.38 would call for 95.92 and 95.65.
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 price is above its 20 and 50 period moving average (respectively at 96.19 and 95.79).
Supports and resistances:
98.23 **
97.96 *
97.69 **
97.41
96.78 last
96.55
96.38 **
95.92 *
95.65 **
Our preference:
the upside prevails as long as 96.38 is support.
Alternative scenario:
the downside breakout of 96.38 would call for 95.92 and 95.65.
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 price is above its 20 and 50 period moving average (respectively at 96.19 and 95.79).
Supports and resistances:
98.23 **
97.96 *
97.69 **
97.41
96.78 last
96.55
96.38 **
95.92 *
95.65 **
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Related Instruments
AUD/JPY
94.012
1.207
+1.30%