AUDJPY currency pair broke downtrend line at the beginning of current week, while during today’s session there was its re-test, already as a new support. In addition, this level coincides with the 20-period SMA, which provides support for prices.
Closing last candle on the 4-hour chart shows the recovery of advantage for demand side and knocked closing levels of the previous five candles. Therefore, it seems that buyers regained the upper hand and there is a chance for further growth. The nearest resistance is around high of the current week, while the key slightly higher in the area at 79.00.
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