AUD/JPY Price Analysis: Bulls eye 91.70 while above 90.70 AUDJPY Technical Analysis
The price is now meeting support in a phase of price discovery whereby the bears have been unable to convincingly break out of the bull's defensive lines and it has been a buy-the-dip theme for a number of days.
The following illustrates that should the bulls commit harder, then a break out to the upside could unfold over the comings days ahead:As illustrated, while the bearish attempts at a break of 88.00 have resulted in a surge in demand, until the bulls conquer 93.00, a 61.8% Fibo resistance, there will be prospects of a deeper correction to the downside.However, the cluster of failed bearish breakouts does keep the bulls in play and we could see an advance on 91.
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