• Vasily Trader

AUDJPY: Key Levels & Your Trading Plan (indecision)

AUDJPY is stuck within a narrow horizontal trading range.

82.8 is its resistance.

82.0 is its support.

Depending on the side of a breakout of the range I see two potential scenarios:

If bears violate and close below the support of the range,

I will expect a bearish continuation to 81.4 - local structure low.

If bulls break and closed above an upper boundary of the range,

I will expect a bullish movement to 84.0 level - key structure resistance .

Wait for a breakout & follow the market.