After a significant bullish wave, the price line on AUDJPY price chart could finally break above the strong resistance level that was formed on 91.000 – 91.500. The price line on this chart, then took a bearish leg, retesting the broken resistance level and a descending trend line was formed on the chart; this trend line is reflected by a descending red line on the chart. As it can be visible on the chart, the mentioned short term trend line is now broken and sellers can target the support zone, mentioned below, and set their pending order on the orange zone.
• There is a resistance level at 91.945 followed by resistance at 92.420 and 92.900.
• There is a support level at 90.290. Below, there is 88.888 and 88.185.
Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.
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