AUDJPY: Potential Long from Key Support Zone

17 Oca

AUDJPY is currently trading near a significant support zone which previously led to bullish reversals. The recent bearish move into this zone suggests a potential for buyers to step in and drive prices higher.

A bullish confirmation, such as rejection patterns, bullish engulfing candles, or long lower wicks, would increase the likelihood of a rebound. If buyers regain control, the price may rise toward the 96.650 level, where sellers could potentially re-emerge.

This setup aligns with a possible short-term recovery within the broader bearish trend. Traders should wait for confirmation of buying pressure before considering long positions.

17 Oca

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17 Oca

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