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AUD/JPY reversed from support area

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  • AUD/JPY reversed from support area
  • Next buy target - 83.00

AUD/JPY today reversed up from the support zone lying between the powerful support level 81.20 (low of the previous minor correction (a)) and the lower daily Bollinger Band. The upward reversal from this support area is expected to create the daily Japanese candlestick reversal pattern Bullish Engulfing – if the pair closes this session near the current levels. AUD/JPY is expected to rise further toward the next buy target at next reistance level 83.00.

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