AUD/JPY Technical Analysis: Rising wedge breakdown on 4H


AUD/JPY’s previous 4-hour candle closed at 78.99, confirming a rising wedge breakdown – a bearish reversal pattern.  So, the pair may fall back to 78.83 (4H 200-candle MA). Validating that bearish case is the negative crossover of the 5- and 10-candle moving averages (MA).  On the higher side, a break above 78.74 would confirm a channel breakout on the daily chart and could yield a rally toward     81.18 (Nov. 21 low).  4-hour chart Daily chart Trend: Cautiously bearish

    1. R3 79.93
    2. R2 79.68
    3. R1 79.42
  1. PP 79.17
    1. S1 78.91
    2. S2 78.66
    3. S3 78.4
Updated Mar 18, 00:00 GMT


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