AUDJPY is already growing since the end of August, when a candle with a long lower shadow appeared on the chart. Over the next few days bulls managed to reach 87.50. Since then, the Australian dollar has strengthened by more than 250 pips.
Zone 89-89.40 currently being tested now becomes a support. There was an attempt to defend it last Friday. On the chart a pinbar candle appeared, traders who tried to push the price lower, selling on the “knot” are in a trap.
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Below there are two trend lines, the quickest at higher angle and slower, which is not much lower.
On the chart you can see that the price has temporarily fallen below the trend line and the 88.55 level. However, very soon returned back above. Currently worth buying is on Fibonacci withdrawal around 89.10. The potential for growth is estimated at about 91.00 as measured by external measurements.