Cross-rate signals: AUD/JPY is near significant support

After the AUD/JPY decline at the beginning of the week, this cross was near the significant level of 87.20-50, which corresponds to the lower border of the rising channel and the Fibo level. 50.0 from the high of 2014 to the low of 2016. On this pair is also the potential to strengthen, which is confirmed by an upward trend.

The signal to resume growth is anchoring the AUD/JPY pair above the 88.00, which will open the way to resistance levels: 89.00 and 89.50. Support is located at the levels: 87.60-50 and 87.20. The breakout of these levels cancels the scenario for strengthening.

Fig. AUD/JPY. The current price is 87.70.

Hanzenko Anton