On AUDJPY chart you can see that price has set a new high and tested area around psychological resistance level 85.50. Pair have been moving for a long time in a bullish channel and there is a strong dominance of demand over supply. Support is in vicinity of round level 84.50. It is worth looking on a chart with a lower time interval.

On H1 we can see a correction of recent growth. Price is heading towards support at 84.75. We can notice confluence of zone 38.2% of FIBO abolition, the upward trend line, and the band of MA. Bullish candle formation will likely lead to continuation of the growth impulse. Breaking the aforementioned resistance will open way to further growth.

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