AUD/JPY looks north with a descending triangle breakout on the hourly chart. The pair looks set to challenge resistance lined up above 75.00. AUD/JPY’s quick recovery from session lows near 73.20 to 74.20 seen in the last two hours has confirmed a descending triangle breakout on the hourly chart. The pattern indicates that the pullback from the June 8 high of 76.79 has ended and the broader uptrend from the March 19 low of 59.87 has resumed. That, coupled with the above-50 or bullish reading on the 14-day relative strength index (RSI) suggests scope for a test of resistance at 75.09 (June 16 high). A violation there would expose the recent high of 76.79. On the downside, a close under Monday’s low of 72.71 is needed to put the sellers back into the driver’s seat. 4-hour chart Trend: Bullish Technical levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Japan’s Aso: Not considering now reviewing primary budget goal FX Street 2 years AUD/JPY looks north with a descending triangle breakout on the hourly chart. The pair looks set to challenge resistance lined up above 75.00. AUD/JPY's quick recovery from session lows near 73.20 to 74.20 seen in the last two hours has confirmed a descending triangle breakout on the hourly chart. The pattern indicates that the pullback from the June 8 high of 76.79 has ended and the broader uptrend from the March 19 low of 59.87 has resumed. That, coupled with the above-50 or bullish reading on the 14-day relative strength index (RSI) suggests scope for a test of resistance at… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
