AUD/JPY currency pair analysis
The currency pair is traded above 200 EMA. A false breakthrough of the 82.34 support level is formed with a return pattern “pin bar”. Together with this, the Stochastic Oscillator indicated the overlap of moving averages inside the oversold area, which gives hope for 82.34 level retest.
Trade idea:
Buy when the support level of 82.34 is retested.
Stop-loss is under the local minimum of the return pattern “pin bar” — 82.10.
Target levels: 83.00; 83.32.
