AUDJPY is stuck within a narrow horizontal trading range.
82.8 is its resistance.
82.0 is its support.
Depending on the side of a breakout of the range I see two potential scenarios:
- If bears violate and close below the support of the range,
I will expect a bearish continuation to 81.4 - local structure low. - If bulls break and closed above an upper boundary of the range,
I will expect a bullish movement to 84.0 level - key structure resistance.
Wait for a breakout & follow the market.
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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.