AUDJPY: Reversal pattern on 4-hour chart

On the daily chart, the AUD/JPY pair is in a strong support area, where the yearly trendline intersects with the monthly uptrend line and a monthly zone, in addition to a bearish weekly trendline, Fibonacci 61.8%, and the 100-week moving average.
This indicates a high likelihood of strong price support at the level of 87.6. However, on the 4-hour timeframe, there are three consecutive bottoms and divergence on momentum indicators, which is a strong reversal pattern. The price needs to break through three obstacles, including a local downtrend line, a resistance level of 89.5, and the 50-period moving average on the 4-hour timeframe, before it can rise. Once these obstacles are overcome and the price stabilizes above 89.55, there will be a strong and rapid selling signal towards 91.5 as the first target and 92.8 as the second target.

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