AUD/JPY appears to be bouncing back ahead of the monthly low (91.42) as it snaps the series of lower highs and lows from last week.
Lack of momentum to close below the 92.80 (50% Fibonacci extension) to 93.30 (23.6% Fibonacci extension) zone may push AUD/JPY back toward the 95.10 (38.2% Fibonacci extension) to 95.20 (23.6% Fibonacci extension) region, with a breach above the monthly high (95.65) bringing the March high (95.75) back on the radar.
Next area of interest comes in around the February high (97.34), but a close below the 92.80 (50% Fibonacci extension) to 93.30 (23.6% Fibonacci extension) zone may push AUD/JPY toward the 91.50 (61.8% Fibonacci retracement) to 91.70 (38.2% Fibonacci extension) region.
--- Written by David Song, Senior Strategist at FOREX.com
Lack of momentum to close below the 92.80 (50% Fibonacci extension) to 93.30 (23.6% Fibonacci extension) zone may push AUD/JPY back toward the 95.10 (38.2% Fibonacci extension) to 95.20 (23.6% Fibonacci extension) region, with a breach above the monthly high (95.65) bringing the March high (95.75) back on the radar.
Next area of interest comes in around the February high (97.34), but a close below the 92.80 (50% Fibonacci extension) to 93.30 (23.6% Fibonacci extension) zone may push AUD/JPY toward the 91.50 (61.8% Fibonacci retracement) to 91.70 (38.2% Fibonacci extension) region.
--- Written by David Song, Senior Strategist at FOREX.com
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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.