AUDJPY has seen a boost higher at the key weekly support. We expected downside here if the price could break and close below the lows. Despite the market breaking lower, we did not get a confirmed close lower.
The 4hr timeframe has now broken through trendline resistance and formed a higher high, higher close with our moving averages also pointing bullish. If price re-test the minor structure highs we could look for a short-term trade into the highs around 82.70.
The 4hr timeframe has now broken through trendline resistance and formed a higher high, higher close with our moving averages also pointing bullish. If price re-test the minor structure highs we could look for a short-term trade into the highs around 82.70.