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Chart Of The Day: AUD/JPY

Published 05/10/2021, 05:53 PM
Updated 07/09/2023, 06:31 AM

"False breakouts may lead to breakdowns," they say. And AUD/JPY has potentially put in a false breakout above the 85.50 level today. In addition, the gravestone doji is not helping any bullish argument today. We have been following a slightly ascending channel recently, which means the pair could slip back to the 83.00 level and not be bearish. However, that is more than 200 pips away. And with the daily RSI divergent, the risk is high for a move back down towards support. Near-term support is the 50-day moving average.

AUD/JPY Daily Chart.

Latest comments

Is this pair have potential to bearish till 83.00?
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