Cross-rate signals: AUD/JPY retains the potential to strengthen

After five days of movement of the pair AUD/JPY in flat, this pair formed a stable sideways trend, which is limited by the general upward trend, which indicates that the expectations for the pair AUD/JPY published earlier were maintained.

Trading recommendations: Given the formed channel, a signal for purchases or sales will be the output of prices from the trading range from 87.80-60 to 88.20-50. The price rise will point to the formation of a new maximum near the resistance levels: 88.70 and 89.00. The resumption of the strengthening of the yen and the exit of the price down will open the way to support levels: 87.30 and 87.00.

Fig. AUD/JPY. Current price – 88.10

Hanzenko Anton