AUD/JPY moves somehow sideways in the short term. It’s located below the immediate dynamic resistance, under the downtrend line. Technically, it’s still expected to increase as the Japanese stock index, the Nikkei, continues to increase.
JP225 price action signaled further growth. The Yen could depreciate versus its rivals if the index approaches and reaches new highs.
AUD/JPY Technical Analysis!
Escaping from the minor channel’s body and stabilizing above the weekly pivot point (80.863) may signal a potential growth. Still, only a valid breakout through the downtrend line, above the triangle’s resistance could activate a bullish momentum.
Making a new higher high could validate further growth. Technically, AUD/JPY was somehow expected to increase after retesting the lower median line (lml). A larger upwards movement will be confirmed by a valid breakout through the ascending pitchfork’s median line (ml).
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