AUD/JPY: 1-hour
Careful, Aussie bulls! AUD/JPY is having a tough time breaking past the 97.50 minor psychological barrier, as this lines up with the falling trend line forming on the pair’s 1-hour forex chart. Price also appears to have found resistance at the 50% Fibonacci retracement level, which could lead to a drop to the previous lows near the 96.50 mark. Stochastic is almost in the oversold area while the pair is still attempting to break the trend line, with a return of buying momentum likely to push AUD/JPY past the Fibs.
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