AUD/JPY 4HR // 11 April 2024 Analysis

We saw AUD/JPY break the 100.00 level yesterday and come back down. We can also see a good uptrend on the 4HR for AJ.

Looking to see how it reacts to the trend line and the area marked around it.

Potential buys if it respects the area and bounces back.

DISCLAIMER: This analysis is purely for personal reference and record keeping and should be taken as educational material only, NOT FINANCIAL ADVISE. I will not be responsible for profits or loses due to this analysis.

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We can see that the price reacted beautifully to the trend line and the support area marked, giving us an upward move of about 85 pips, touching the 100.000 level and dropping back off at the support area around the trend line.

We can wait to see how it reacts to this support level this time.

Great chances of price breaking this level of support to continue the move downwards.