AUD/JPY may face range-bound conditions going in Japan’s 2016 fiscal year-end as it struggles to break the monthly opening range, but the broader outlook remains constructive as the pair preserves the bullish formations carried over from earlier this year. The lack of momentum to test the 87.70 (61.8% expansion) hurdle may keep AUD/JPY within a narrow range especially as the Relative Strength Index (RSI) preserves the downward trend carried ...
Monthly price is located below Ichimoku cloud with the bearish market condition. Descending triangle pattern was formed by the price to be broken to below with 72.38 support level for the bearish trend to be continuing, otherwise - ranging bearish.
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