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

After the next update of the low by the pair AUD/JPY at 84.40, a correction followed, which was caused by the positive start of the US stock indices and the oversold of this pair. Against the backdrop of persisting fears and a sustained downtrend on this pair, one should expect a resumption of decline.

A significant level of resistance, from which the repulsion is expected, is 85.40-50. After the formation of the retreat, one should expect a support test: 84.30 and 84.00. Fixing a pair above the level of 85.40-50 cancels the scenario for decline. Strong level of resistance is also 86.00-20.

Fig. AUD/JPY. The current price is 85.00.

Hanzenko Anton