Bears eye a break below key structure with eyes on 91.00 – Crypto News – Crypto News
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AUD/JPY renews weekly top around 95.00 on China stimulus, cautious optimism ahead of Jackson Hole AUD/JPY renews weekly top around 95.00 on China stimulus, cautious optimism ahead of Jackson Hole

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Bears eye a break below key structure with eyes on 91.00 – Crypto News

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2 years ago

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  • AUD/JPY bears have started to take on the supporting trendlines.
  • The AUD/JPY price imbalance is vulnerable and guards potentially all the way to the 91.00 figure.

The Forex space is registering fresh highs and lows all over the board and AUD/JPY is no exception. This leaves the Outlook compelling for the weeks ahead as we had over to the second day of trade starting in Asia.

The bulls have been in charge for the best part of the end of last week with a strong rally from a low of around 88.00 to meet the upper end of the 91 area. The question now is whether the bears will be given an opportunity as the price starts to consolidate here following some recent deceleration on the bid:

AUD/JPY price analysis

The bears have started to take on the supporting trendlines and a break there will open risks of a move into the price imbalance below and potentially all the way to the 91.27s and the 91.00 figure.

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