Cross-rate signals: AUD/JPY is traded in an uptrend

Cross-rate AUD/JPY, despite the general correction of the Australian currency, continues to maintain an upward trend, which is limited to the support level of 83.40-83.00. In this case, the market expects tomorrow’s data on Australia’s GDP, against which a correction of the Australian is traced.

Restrained or positive data on Australia are likely to resume growth of the pair and will open the way to resistance levels: 84.20 and 84.50. On the other hand, the resumption of risks in the reduction of stock exchanges and weak data on Australia may cause a stronger decline in the Australian dollar to support levels: 82.80 and 82.50.

Fig. AUD/JPY. Current price – 83.40

Also, read: “6 rules for those who want to become a professional trader”

Hanzenko Anton