AUD/JPY Imminent Upside Breakout!

Olimpiu Tuns
11 August 2021 | Updated: 11 August 2021

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.

 

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.

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Olimpiu Tuns

Olimpiu Tuns

Olimpiu Tuns graduated with a Master in Business Administration and is a seasoned Market Analyst / Trader / Trainer with 10 years of experience in the financial markets having expertise in Forex, Commodities, Index, Cryptocurrencies, and Stocks. He worked as a Market Analyst for three major brokerage companies, as a prop trader, and as a contributor/content creator for news portals and educational platforms.