Forecast for the currency pair AUD / JPY
Published on 22.05.2020 16:33

Today we will look at the AUD / JPY currency pair. At the time of writing this review, the quotes of the pair remained sideways 69.90–70.15. Please note that this is a fairly strong technical support area, which was previously resistance. Until the lower limit of this range breaks through, the risk of further upward movement remains.


Trading outlook:
The main scenario.
This scenario takes into account the growth of the currency pair to 71.25 and will be in focus priority until the currency drops below the level of 69.90.
Alternative scenario.
A break of the lower border from the sideways range of 69.90–70.15 will cancel the bullish scenario, but but strong buying interest will remain , because the trading trend remains upward.
The AUD remains the growth driver for this currency pair and further strengthening will lead to the implementation of the bullish scenario.
The above review is not a direct guide to action, but carries an exclusively recommendatory nature.


Andrew Masters

Analyst

The world of trading has no boundaries
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