AUD/JPY strong resistance broken, time to start buying




The price has broken a strong resistance level which has led to a shift in our momentum bearish to bullish. We are preparing to buy is in a hollow above 87.93 support (Fibonacci retracement, horizontal overlap support) for a push up to at least 88.82 resistance (Fibonacci retracement, horizontal swing high resistance, Fibonacci extension).

RSI (34) sees a growing support channel to support our bullish momentum of the view.

Buy above 87.93. Stop loss is at 87.20. Take profit is at 88.82.



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