Currently, the AUD/JPY is creating a right shoulder of the inverse head-and-shoulders pattern with the neckline resistance at 79.76. A break above the neckline would confirm a bearish-to-bullish trend change and would open up upside toward 81.00 (target as per the measured height method). A bull breakout may turn into a bull trap if the Chinese yuan continues to slide, triggering risk aversion and boosting haven demand for the JPY. Hourly Chart Spot Rate: 79.52 Daily High: 79.58 Daily Low: 79.25 Trend: Bullish above 79.76 Resistance R1: 79.76 (neckline resistance) R2: 80.00 (psychological hurdle) R3: 80.28 (200-period EMA on 4-hour chart) Support S1: 79.10 (low of the previous 4-hour candle) S2: 78.68 (Sept. 7 low) S3: 78.56 (Oct. 26 low) 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 PBOC sets the yuan reference rate at 6.9574 FX Street 4 years Currently, the AUD/JPY is creating a right shoulder of the inverse head-and-shoulders pattern with the neckline resistance at 79.76. A break above the neckline would confirm a bearish-to-bullish trend change and would open up upside toward 81.00 (target as per the measured height method). A bull breakout may turn into a bull trap if the Chinese yuan continues to slide, triggering risk aversion and boosting haven demand for the JPY. Hourly Chart Spot Rate: 79.52 Daily High: 79.58 Daily Low: 79.25 Trend: Bullish above 79.76 Resistance R1: 79.76 (neckline resistance) R2: 80.00 (psychological hurdle) R3: 80.28 (200-period EMA on 4-hour… 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.
