There is a possible reversal on AUDJPY with focus, “lower while below the weekly open at 83.24 with initial support objectives eyed at the confluence of the 50-line / 100-day moving average at ~82.50 and the 61.8% retracement / July open at 82.00/04- look for a stronger reaction there for guidance. A ‘strong’ reaction off the 82-handle has fueled a price rally of more than 1.7% with the advance taking AUD/JPY through the 61.8% retracement at 83.12. Interim support now 82.61 with subsequent topside resistance targets eyed at 83.61/70 and the 38.2% retracement at 84.25- and area of interest for possible near-term exhaustion / short entries. Broader bullish invalidation steady at 81.88/93.
Translate to English Show original