AUDJPY DAILY CHARTTECHNICAL ANALYSIS

SUPPORT AND RESISTANCE

The price reacted neatly off monthly resistance zone as we had discussed in the previous article. On the daily chart below, the labelled zones (R1,R2, S1, and S2) are the major daily resistance and support zones.

Price is now into significant daily support zone S1 marked by the blue arrows with significant downward pressure. Close below S1 preferably weekly candle close below the zone may lead price into the next major daily support zone S2 around 81.522. R1 is likely to halt the price once if it again bounces off strongly off S1.

AUDJPY, HOURLY

INTRADAY SUPPORT AND RESISTANCE ZONES

The labelled zones on the chart below are the intraday support and resistance zones. Intraday Sell setups on the zones r1, r2 and R1 are high probability short setups.