After trending lower for the past few trading days, AUD/JPY has finally broken resistance on the falling trend line and SMAs on the hourly time frame. The series of lower highs has now been broken. Could this be the start of an uptrend? AUD/JPY could make a run for its previous highs at 95.50 and test for resistance. If it doesn’t hold, the next level to watch out for would be 95.90 where the pair previously tapped a new high.
To contact the reporter of the story: Jonathan Millet at firstname.lastname@example.org.