AUD/JPY – 1H – BUYThe pair jumps from the bearish trendline down.
A continuation of the downtrend down to the next support at 99.68100 is expected.
Caution: A possible trend reversal in the direction of resistance at 100.94100 is also possible.
Consider stop-loss settings accordingly.
Correction of the major bullish trend halted around the Fibonacci 0.7-Level.Continuation of the current ascending trend is expected. Current target is 100.311 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of resistance at 100.94100 is also possible.
Consider stop-loss settings accordingly.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 101.77100 |
| 2nd High | 101.41400 |
| Next High | 100.94100 |
| Current Price | 100.28500 |
| Next Low | 99.68100 |
| 2nd Low | 99.08000 |
| 3rd Low | 98.34100 |