Type: Bearish reversal
Key Levels: Resistance: 82.916, pivot: 82.428, and support: 81.687
Preferred Case: AUD/JPY has bearish momentum and formed a double top pattern. We see the potential for a dip from our pivot at 82.428 in line with 100% Fibonacci retracement, 100% Fibonacci extension, and 50% Fibonacci retracement towards our 1st support at 81.687 in line with 38.2% Fibonacci retracement.
Alternative Scenario: Alternatively, prices may climb higher towards our 1st resistance at 82.916 in line with 127.2% Fibonacci extension.