AUD/JPY Potential Downward Movement

AUD/JPY Long-Term Trend: Bearish

Key Resistance Levels: 98.513, 99.502, 101.048

Key Support Levels: 97.656, 97.015, 96.582

Daily Chart:

The price on the higher time frame has recently been in a downtrend. It tested a resistance level of 101.048 and reversed the direction. The pair has also broken a few support levels which suggests further trend continuation.

AUD/JPY Medium-Term Trend: Bearish

1-Hour Chart:

On the lower time frame, the pair is moving in the major trend’s direction. It broke a key area recently to shift the short-term trend to bearish. As of now the pair has broken and retested a minor level of 98.513 before continuing the momentum.

Signal Idea:

Sell Limit Order @ 98.274

TP @ 97.691

Stop Loss @ 98.856

Trade Safely 🙂

This trading signal is not financial advice, it is only education, and our opinion. Any trade you take is your decision. Trade safely.

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