AUDJPY: Descending Trend Confluence Deciding the Price Movement.

FX:AUDJPY   Australian Dollar / Japanese Yen
Hello traders,

AUDJPY resistance confluence triggering the pullback formation. Eight-month-old Descending trend act as a trend resistance and keeping the price range in the downtrend and the pair is likely to revisit the 81.00 and the 80.60 supports.

However, the 80.00, the 79.50 and the 78.65 might challenge the further decline after the 80.50. In case the price range continues sentiments with bear the 77.35 will be the halt zone for the price range.

On a daily basis, In case the price bounce off from the descending trend the 82.80 could be the target. The 83.30 and the 84.45 have a chance to get highlighted.

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