Currently, AUD/JPY is trading at 75.20. The pair is consolidating in the resistance and support wedges . Previously, the pair was trading in a down trend in a descending triangle pattern. There is a great possibility that the pair will rebound back from its support level . But if the price breaks the support level at 74.87, then It may start a new down trend and its first target price will be at 74.03 and second target price will be at 73.42.
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Rishikesh Lilawat
Rishikesh Lilawat has over seven years of experience in trading Forex and commodities markets, out of which three years in two investment banks as a professional Forex and commodities trader. He holds an M.B.A degree in finance and business analytics from the University of Pune. Realizing the central role of a trader and because of his personal and particular interest in trading, He built skills in market research, technical analysis, fundamental analysis, risk management, and fund management, etc and focus his efforts on communicating and sharing views on market trends and patterns.
