AUDJPY continues FALL to support line

687
At the very beginning of January, the price came to a strong resistance zone of 80.99. This zone is formed at the intersection of two strong resistance lines, one of which appeared in 2019, and the second, a stronger one, in 2014.

As expected, the price bounced from this zone and began to fall, but after a few days it returned to the zone during the correction. For the second time, the price began to fall from the 80.82 line. But this time there was also a correction. However, during the second correction, the atk price did not return to the resistance zone, but stopped short of reaching it.

Like last time, I continue to expect that despite the correction, the price will continue to fall from the resistance zone and eventually come to the support line. Thus our final target is the 78.43 support line.

Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.