AUD/JPY Breakout Brings Continuation!
Login

AUD/JPY Breakout Brings Continuation!

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Olimpiu Tuns

Updated:


AUD/JPY decreased a little in the short term, but the upside pressure is strong. The support area holds, so an upside breakout is favored. In the short term, the pair dropped as the Yen was boosted by Nikkei’s sell-off.

AUD/JPY increases right now even if the Japanese Unemployment Rate, Prelim Industrial Production, and the Housing Starts have come in better than expected. Unfortunately, the Retail Sales increased only by 0.1% in June versus 0.3% expected and after 8,3% growth in May.

AUD/JPY H4 Technical Analysis!

AUD/JPY escaped from a Falling Wedge pattern signaling an upside movement. It has found temporary resistance at the ascending pitchfork’s median line (ml) and now it has declined a little.

It has found support below the weekly pivot point (80.956), right on the inside sliding line (sl). Technically, it’s trapped within a down channel, an upside breakout could validate further growth, a new leg higher.

Conclusion!

Stabilizing above the weekly pivot point (80.956) followed by a valid breakout through the downtrend line could validate a fresh swing higher.

 

Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News