On the four-hour chart of AUD/JPY, a clear bearish picture has formed after yesterday's session. The pair, rebounding from a key resistance, dropped to the level of 92.68, confirming a change in short-term market sentiment. It is particularly significant that the price not only formed a descending channel but also started testing its lower boundary, demonstrating increased selling pressure. The technical indicators AO and RSI unanimously confirm the trend reversal, settling in the selling zone. Their dynamics are especially indicative - the oscillators started declining even before a clear price reversal, which often precedes a sustainable movement. Key levels have set clear reference points: Support at 91.78 becomes a critical line of defense Resistance at 95.27 now appears as a distant target The current situation requires special attention to the price behavior at the lower boundary of the channel. Two main scenarios are possible: either a bounce from current levels with an upward correction, or a breakthrough with an acceleration of the downward movement. The level of 91.78 gains particular importance - its testing could be decisive for the medium-term perspective. In the current conditions, a prudent strategy would be a wait-and-see approach with readiness to act upon the emergence of confirming signals.
