AUD/JPY looking for bids around 88.43

AUD/JPY looking for bids around 88.43

AUD/JPY has been trading in a bearish bias, as it was offered by recent headlines coming from North Korea. Technically, the pair is consolidating below the 200 SMA at H1 chart and looks to test the demand zone between the 88.43 and 87.89 levels across the board, at which lies the Fibo zone of 50% and 65% respectively.

That area should provide bids for the pair and if it manages to rebound around it, we can expect rallies to reach the -23.6% Fibo level at 91.11. RSI indicator remains in the oversold territory.

AUDJPYmH1.png

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