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Monday, May 21, 2018

New Analysis: AUD/JPY opened with a positive gap on Monday


📊 AUD/JPY opened with a positive gap on Monday and during the Asian morning, it managed to break above the resistance (now turned into support) barrier of 83.40, as well as above the downside resistance line taken from the peak of the 13th of March.

We would expect the bulls to challenge the 83.95 soon, but we would like to see a decisive break above 84.10 before we get confident on larger bullish extensions. Such a break is possible to set the stage for our next resistance territory of 84.55, defined by the peak of the 13th of March.

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