After an upward reversal in early August and a higher low in mid-September, AUD/JPY continued climbing to reach a local high around 102.
However, the pair has since stalled in this area, entering what appears to be a distribution phase. Currently, it seems to be testing a critical support level around 100.
A successful break below this level could signal an accelerated downward move.
A medium-term target for this decline is around 95, with an interim support level at 98—an attractive target for traders who are not so patient.
However, the pair has since stalled in this area, entering what appears to be a distribution phase. Currently, it seems to be testing a critical support level around 100.
A successful break below this level could signal an accelerated downward move.
A medium-term target for this decline is around 95, with an interim support level at 98—an attractive target for traders who are not so patient.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.