AUD/JPY – 1H – SELLThe currency pair Australian Dollar/Japanese Yen (AUD/JPY) moves from the ascending trendline down.
A bearish movement down to the next support at 97.73700 is likely expected.
Caution: A possible change in the direction of the resistance zone at 98.23600 is within the realm of possibility.
Consider stop-loss settings accordingly.
Correction of the major bullish trend broke through the Fibonacci 0.24-Level.Continuation of the current descending trend is likely expected. Current target is 97.262 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of support at 98.23600 is within the realm of possibility.
Consider stop-loss settings accordingly.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 98.74700 |
| 2nd High | 98.72700 |
| Next High | 98.23600 |
| Current Price | 97.97100 |
| Next Low | 97.73700 |
| 2nd Low | 97.42700 |
| 3rd Low | 95.79700 |