AUD/JPY struggles around 23.6% Fibonacci retracement even after breaking a week-long symmetrical triangle to the downside. Bearish MACD, sustained trading below 4H 100MA favor sellers. Even after breaking one-week-old symmetrical triangle formation, AUD/JPY clings to 23.6% Fibonacci retracement of late-July to early-August downpour as it trades near 72.00 amid initial Asian session on Wednesday. Not only a downside break of the triangle, bearish signal by 12-bar moving average convergence and divergence (MACD) indicator also favor sellers targeting August 11 low close to 71.40. In a case prices slip beneath that monthly bottom near 70.70 and 70.00 round-figure will be on bears’ list. On the upside, a downward sloping trend-line at 72.30 and 100-bar moving average on the four-hour chart (4H 100MA) at 72.42 can limit near-term advances. AUD/JPY 4-hour chart Trend: Bearish 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 EUR/JPY technical analysis: Bulls trapped by descending resistance FX Street 4 years AUD/JPY struggles around 23.6% Fibonacci retracement even after breaking a week-long symmetrical triangle to the downside. Bearish MACD, sustained trading below 4H 100MA favor sellers. Even after breaking one-week-old symmetrical triangle formation, AUD/JPY clings to 23.6% Fibonacci retracement of late-July to early-August downpour as it trades near 72.00 amid initial Asian session on Wednesday. Not only a downside break of the triangle, bearish signal by 12-bar moving average convergence and divergence (MACD) indicator also favor sellers targeting August 11 low close to 71.40. In a case prices slip beneath that monthly bottom near 70.70 and 70.00 round-figure will be on… 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.
