AUD/JPY’s bulls could face some exhaustion above 75.00. 4-hour chart stays bullish, but signals caution. Will the spot sustain the gains ahead of US data, RBA? AUD/JPY spotted a descending triangle breakout on the four-hour chart this Monday, with the risk-on mood having emerged as the main catalyst supporting the bullish break. The price hit fresh session highs at 75.13 before retreating slightly to battle the 75 handle ahead of the European open. The bulls are seen facing some exhaustion, as the 4-hour Relative Strength Index (RSI) has extended into the Overbought territory. Therefore, the cross could enter a phase of upside consolidation before embarking upon its journey towards pattern target near 77.50 levels in the coming days. To the downside, the 21 4-hour SMA at 74.49 could offer immediate respite to the bulls below which the pattern resistance-turned-support could be tested. Looking at the hourly chart, the spot has confirmed a symmetrical triangle breakout in early Asia, having pierced through the falling trendline (pattern) resistance at 0.6943. A break below the strong support around 74.00, the confluence of the 50 and 100 4-hour SMAs will negate the near-term bullish bias. AUD/JPY 4-hour chart AUD/JPY additional 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 Cryptocurrency News Update: Bitcoin starts the week on a bullish note, gains ground above $9,200 FX Street 3 years AUD/JPY’s bulls could face some exhaustion above 75.00. 4-hour chart stays bullish, but signals caution. Will the spot sustain the gains ahead of US data, RBA? AUD/JPY spotted a descending triangle breakout on the four-hour chart this Monday, with the risk-on mood having emerged as the main catalyst supporting the bullish break. The price hit fresh session highs at 75.13 before retreating slightly to battle the 75 handle ahead of the European open. The bulls are seen facing some exhaustion, as the 4-hour Relative Strength Index (RSI) has extended into the Overbought territory. Therefore, the cross could enter a phase… 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.