AUD/JPY forming a bullish set-up [Video]

Gregor Horvat Wavetraders

AUD/JPY is recovering very nicely after touching the 86 support level, which goes back to the 2023 low. That was clearly an important zone from there we’ve seen a sharp and impulsive bounce in the last two months, even breaking above the trendline resistance connected down from the 2024 highs. This breakout suggests that bulls may be back in control and could still drive the pair toward the 98–100 area later this year. If we get a retracement in the near term, keep an eye on the 91,70 – 90,00 zone as potential support.

AUD/JPY daily chart

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Author

Gregor Horvat

Wavetraders

Experience Grega is based in Slovenia and has been in the Forex market since 2003.

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