AUD/JPY witnesses corrective pullback after confirming a bearish chart formation the previous day. RSI recovery suggests further bounces off the key HMA. 50% and 61.8% Fibonacci retracement levels offer extra resistance levels to watch. AUD/JPY picks up bids to 83.85 during the initial Asian session trading on Wednesday. In doing so, the quote takes a U-turn from 83.59, within a small distance of 200-HMA support, but keeps the downside break of rising wedge bearish formation. Given the confirmation of the bearish chart pattern, the pair’s latest bounce is less likely to convince buyers for re-entry unless rising past-61.8% Fibonacci retracement of March 18-24 downside, around 84.25. Though, the lower line of the stated wedge formation, near 84.17, guards the immediate upside. Should AUD/JPY rises past-84.25, the mid-84.00s can lure the bulls. Meanwhile, 200-HMA close to 83.60 restricts the pair’s immediate downside ahead of the weekly bottom surrounding 83.33. In a case where AUD/JPY sellers retake controls past-83.33, the 83.00 round-figure will be the key to watch. AUD/JPY hourly chart Trend: Further recovery expected FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Uniswap Price Projection: UNI is set to decline 35% FX Street 8 months AUD/JPY witnesses corrective pullback after confirming a bearish chart formation the previous day. RSI recovery suggests further bounces off the key HMA. 50% and 61.8% Fibonacci retracement levels offer extra resistance levels to watch. AUD/JPY picks up bids to 83.85 during the initial Asian session trading on Wednesday. In doing so, the quote takes a U-turn from 83.59, within a small distance of 200-HMA support, but keeps the downside break of rising wedge bearish formation. Given the confirmation of the bearish chart pattern, the pair's latest bounce is less likely to convince buyers for re-entry unless rising past-61.8% Fibonacci retracement… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
