AUD/JPY reversed from resistance zone

AUD/JPY reversed from resistance zone

  • AUD/JPY reversed from resistance zone
  • Next sell target - 87.30

 AUD/JPY recently reversed down from the resistance zone lying between the key resistance 88.90 (which reversed the previous sharp upward corrections 2 and (2) in October and December, as can be seen below) and the upper daily Bollinger Band. With the clear bearish divergence visible on the daily Stochastic indicator AUD/JPY is expected to fall further toward the next sell target at the next powerful support level 87.30 (low of impulse 1).

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