AUD/JPY Technical Analysis: Bullish continuation pattern

• The AUD/JPY pair has created a bull flag pattern in the 30-minute chart.
• An upside breakout would indicate a  resumption of the rally from the May 29 low of 81.03 and would open doors to 84.40 (target as per the measured height method).
• A downside break would discourage the bulls.

AUD/USD 30-minute chart

Spot Rate: 82.47

Daily Change: +0.15 percent

Trend: Sideways

Support 1: 82.28 (5-day moving average)

Support 2: 81.99 (Previous day’s low)

Support 3: 81.65 (pivot point S2 – 1D)

Resistance 1: 82.49 (50-day moving average)

Resistance 2: 82.81 (10-day moving average)

Resistance 3: 83.03 (pivot point R2 – 1D)