AUDJPY: Support Zone and How to Trade

The market should be added to a watchlist. It will be able to provide interesting trading opportunities based on the daily and lower timeframes.

The price reached the support zone formed by the local uptrend line and SMA with period 200.

If we get the reversal, it will be a bullish signal and a new buy opportunity. Long positions can be opened based on the daily and lower timeframes. The market will confirm the continuation of the uptrend.

If the price breaks the support zone, it will be a trend reversal signal. But for selling, we will have to wait for a breakout below SMA with period 100.

Now RSI and MACD give us bearish signals, and dring the next week we will be able to see an attempt to break the support.

Let's watch for the market.