AUD/JPY Price Analysis: Bears eye a break below key structure with eyes on 91.00
- AUD/JPY bears have started to take on the supporting trendlines.
- The AUD/JPY price imbalance is vulnerable and guards potentially all the way to 91.00 the figure.
The forex space is registering fresh highs and lows all over the board and AUD/JPY is no exception. This leaves the outlook compelling for the week ahead as we had over to the second day of trade starting in Asia.
The bulls have been in charge for the best part of the end of last week with a strong rally from a low of around 88.00 to meet the upper end of the 91 area. The question now is whether the bears will be given an opportunity as the price starts to consolidate here following some recent deceleration on the bid:
AUD/JPY price analysis
The bears have started to take on the supporting trendlines and a break there will open risks of a move into the price imbalance below and potentially all the way to the 91.27s and the 91.00 figure.
Author
Ross J Burland
FXStreet
Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.
