AUD/JPY – 30M – BUYThe combination moves from the descending trendline downwards
A continuation of the downtrend down to the next support level at 98.26200 is expected.
Caution: A possible trend reversal in the direction of the resistance level at 100.71800 should always be considered.
Consider stop-loss settings accordingly.
Correction of the major bearish trend broke through the Fibonacci 0.24-Level.Continuation of the current ascending trend is expected. Target of the current trend is 99.49 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the resistance level at 100.71800 should always be considered.
Consider stop-loss settings accordingly.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 103.11000 |
| 2nd High | 101.77100 |
| Next High | 100.71800 |
| Current Price | 99.01700 |
| Next Low | 98.26200 |
| 2nd Low | 97.98100 |
| 3rd Low | 97.94100 |