Since 1,5 month AUDJPY moved in consolidation between levels 87.30 and 82.10. Today bulls once again are trying to break above the resistance at 87.30 at this moment attempt is successful. Bulls have to face a challenge of maintaining price above this resistance.
In the next few hours may appear withdrawal and if the price drops below 86.80 today breakout may be a fakey and price will return to September bottom. If the withdrawal does not take place or will be not deep the price will return to upward movement and the next resistances we can point at weekly interval.
Try FX GROW. STP/ECN Execution, raw spreads.
Wider view, interval W1
Since AUDJPY is moving in a downward channel, the lower limit was tested in late August of 2015. The upper limit is now at 92.20. Before indicated resistance, the bulls will have to break above the levels of 88.40 and 89.20.
