Since the end of August AUDJPY moves in consolidation between the levels 82.00 – 87.50. In October price twicely tried to break above resistance. Attempts were unsuccessful and the price dropped to a level where it was last in October 6.
After these attempts bulls are disappointed and soon may allow the bears to gain more strength. Currently, it is likely to see downward movement, even to the level of 82.00. Current supports: 85.50, 85.00, 83.90, 83.00.
Try FX GROW. Spread from 0.00001 also STP/ECN execution, full transparency.
Wider view, time-frame W1
AUDJPY moves in yearly downward channel which upper limit was recently tested in June 2015. Current upward movement, which lasts from mid-August so far reached only half the distance. Only breaking 82.00 or 87.50 will allow price to reach support 79.50 or resistance 90.70.
