AUD/JPY snaps the series of higher highs and lows carried over from last week after struggling to test the March high (95.75).
In turn, AUD/JPY may continue to give back the advance from the start of the week, with a move/close below the 92.80 (50% Fibonacci extension) to 93.30 (23.6% Fibonacci extension) zone bringing the monthly low (91.42) on the radar.
Failure to defend the 91.50 (61.8% Fibonacci retracement) to 91.70 (38.2% Fibonacci extension) region opens up 90.50 (61.8% Fibonacci extension), but a breach above the March high (95.75) may push AUD/JPY back toward the February high (97.34).
--- Written by David Song, Senior Strategist at FOREX.com
In turn, AUD/JPY may continue to give back the advance from the start of the week, with a move/close below the 92.80 (50% Fibonacci extension) to 93.30 (23.6% Fibonacci extension) zone bringing the monthly low (91.42) on the radar.
Failure to defend the 91.50 (61.8% Fibonacci retracement) to 91.70 (38.2% Fibonacci extension) region opens up 90.50 (61.8% Fibonacci extension), but a breach above the March high (95.75) may push AUD/JPY back toward the February high (97.34).
--- 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.