AUDJPY at Key Resistance Level: Will it Drop To 92.850?

2 Mei

AUDJPY is approaching a key resistance level that has previously acted as a strong barrier, triggering bearish momentum in the past. Given its historical significance, how price reacts here could set the tone for the next move.

If bearish signals emerge, such as rejection wicks, bearish candlestick patterns, or signs of weakening bullish pressure, I anticipate a move toward the 92.850 level. However, a clear breakout above this resistance could challenge the bearish outlook and open the door for further upside. It's a pivotal area where price action will likely provide clearer clues on the next direction.

Just my take on support and resistance zones, not financial advice. Always confirm your setups and trade with a proper risk management.
Best of luck!

3 Mei

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