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Australian Dollar / Japanese Yen
Long
Updated

AUDJPY: Bullish Bounce Expected from Key Support Zone

AUDJPY is approaching a significant demand zone, marked by prior bullish reactions and strong buyer interest. The current market structure suggests the potential for a reversal in this area if buyers regain control.

This demand zone aligns with a key support area. If price action confirms rejection with bullish patterns such as pin bars or engulfing candles, I anticipate a move upward toward the 96.910 level, representing a key resistance.

This setup aligns with the expectation of a trend continuation from support. Feel free to share your thoughts or additional insights in the comments!
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DanieIM
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