AUDJPY is facing bullish pressure, potential for more upside!
AUDJPY is currently facing bullish pressure as it is reacting off the ascending support line very nicely. Currently, price is in a pullback to the horizontal pullback support which coincides with the 61.8% Fibonacci retracement and 78.6% Fibonacci retracement level. If prices were to bounce up from that level, it is likely to reach 1st resistance which is our horizontal swing high resistance and it coincides with the 61.8% Fibonacci retracement. If prices were to fall, then it might reach our the 2nd support level which coincides with our pullback support as well as the 78.6% Fibonacci retracement.
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