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AUDJPY Heads To Confront Horizontal Resistance-Region

8 September 2017 02:39 PM BDT
AUDJPY Heads To Confront Horizontal Resistance-Region

With the early day release of Japan's weaker than forecast Final GDP, the AUDJPY seems heading towards the 87.90–88.00 horizontal resistance region; however, the pair's following upside become questionable due to comparative strength of the JPY and near overbought RSI. In case if the quote manages to surpass 88.00, the 88.30, the 88.60 and the 88.80 may offer intermediate halts during its northward trajectory in direction to 89.00 round figure.

On the downside, the 87.00 can keep acting as immediate support for the pair, breaking which 86.70 and an upward slanting TL support of 86.50 may try restricting its decline. Should prices refrain to respect 86.50, the 86.00, the 85.70 and the 85.40 are likely consecutive rests that can be availed.

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