AUD/JPY Imminent Upside Breakout!

AUD/JPY rallied in yesterday’s trading session signaling that the downside is limited. It stands below the immediate downtrend line, so an upside breakout may signal continuation. It has moved sideways in the short term, but this sideways it cannot last indefinitely.

JP225 Technical Analysis! 

JP225 (Nikkei) has registered a valid breakout through the descending pitchfork’s upper median line (UML) and now is almost to take out the weekly R1 (28,112.8) resistance. Further growth signals that the Japanese Yen could depreciate versus its rivals.

AUD/JPY H4 Chart Technical Analysis!

AUD/JPY stands right below the downtrend line. Its failure to stabilize under the weekly (80.861) signaled that the buyers could take it higher. It has failed to come back down towards the lower median line (lml) signaling strong buyers.

Making a valid breakout above the downtrend line and registering a new higher high may signal an upwards movement ahead. AUD/JPY is trapped between the median line (ML) and the lower median line (LML). Jumping and stabilizing above the median line (ML) could really signal further growth.

Conclusion!

A valid breakout through the triangle’s resistance may bring further upwards movement in the short term.

 

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