AUD/JPY Bounced Off 83.70

AUD/JPY bounced off the resistance at 87.50 after forming an impressive shooting star candlestick on the weekly time-frame and started moving to the downside, but it appears that movement is over at least for now, because the pair encountered significant support at 83.70 which coincides with the (MA)89 indicator on the weekly time-frame again. After the pair formed an inverted hammer candlestick and a spinning top on the daily time-frame, as well as another spinning top candlestick on the weekly time-frame above that support it started climbing again. The pair is currently testing the resistance at 85.20 and if it breaks out above that level it will likely continue moving to the upside towards the next resistance at 87.00.