AUD/JPY aims at previous high levels

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Source: Dukascopy Bank SA


In February, the AUD/JPY currency exchange rate passed the resistance of the 50 and 200-day simple moving averages at 82.00 and 82.45. Due to that reason, a surge of the pair was likely, as the pair faced no resistance as high as the November and January high level zone at 84.15/84.30.

In the case that the rate passes above the 84.15/84.30 zone, the pair would test the 2021 high level zone at 85.46/86.25.

Meanwhile, a potential decline could look for support in the 50 and 200-hour simple moving averages near 82.00. Below the SMAs, note the trend line, which connects the 2021 low levels. Further below, the December and September low level at 78.90 and the August low level at 77.90 might provide support.
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