AUD/JPY breaks major resistance zone

Note: This section contains information in English only.
Source: Dukascopy Bank SA


On March 2, the AUD/JPY currency exchange rate reached above the resistance zone of the November and January high levels at 84.15/84.30. On Thursday, March 3, the currency pair appeared to be confirming the previous resistance as support.

If the Australian Dollar continues to gain against the Japanese Yen during the upcoming trading sessions, the pair might test the resistance of the 2021 high level zone at 85.46/86.25. Afterwards, the charts should be analyzed for the understanding, in what pattern is the rate surging. It could be that the pair is surging in a channel up pattern, which is shown on the chart.

Contrary to a surge would be a decline. A potential decline would have to pass the support of the 84.15/84.30 zone. Below the support zone, it could be possible that the pair stops at the trend line, which connects the February low levels. In addition, take into account the 50 and 200-day simple moving averages near 82.50 and 82.00
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