AUD/JPY: Australian dollar approaches critical support at 79.510

Denis Joeli Fatiaki Independent Analyst

AUD/JPY: Australian dollar approaches critical support at 79.510

What is going on now with AUD/JPY?

AUD/JPY: The Australian dollar fell from 80.020 to79.510 in the previous session but bounced and recovered to 79.790. The pair dropped in today's opening session and continued down to 79.510 support.

Our forecast

AUD/JPY: The pair currently trades at 79.530 and attempts to hold above 79.510 in the 60 minutes price chart. If it fails, then we might have a short opportunity with a stop at 79.605 and target price at 79.280 and 78.970. The pair needs to break and hold above 79.790 to continue to its target price at 80.020

Support - 79.510, 79.280, and 78.970

Resistance - 79.790, 80.020, and 80.300

The trade signals are posted on to our Telegram channel on a regular basis as per the link below.
https://t.me/leoprimefx

Chart 1: The short-term view of the AUD/JPY price action in the 60 minutes price chart highlights the direction of the trend and the support and resistance price points

Chart 2: The short-term view of the AUD/JPY price action in the four hours price chart highlights the direction of the trend and the support and resistance price points

Author

Denis Joeli Fatiaki

Independent Analyst

Denis Joeli Fatiaki possesses over a decade of extensive experience as a multi-asset trader and Market Strategist.

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