AUD/JPY follows a bearish technical pattern below the key moving average. Oversold RSI conditions around the channel’s support can trigger pair’s pullback. A short-term falling trend-channel below 4H 200MA portrays the AUD/JPY pair’s weakness as it trades near 74.43 during the early Asian session on Thursday. However, oversold conditions of 14-bar relative strength index (RSI) around the channel support favor the odds of a pullback to 74.70 whereas 61.8% Fibonacci retracement of June month upside and channel-resistance, at 74.82 and 74.88 respectively, can question further advances. Should buyers manage to cross 74.88, 50% Fibonacci retracement level of 75.10 can offer an intermediate halt during the run-up to 200-bar moving average on the 4-hour chart (4H 200MA) near 75.34. Meanwhile, pair’s slip beneath 74.33 channel support could highlight 74.10 and June month low close to 73.90 for sellers. 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 European subsidiary of bitFlyer launches Bitcoin trading service FX Street 4 years AUD/JPY follows a bearish technical pattern below the key moving average. Oversold RSI conditions around the channel's support can trigger pair's pullback. A short-term falling trend-channel below 4H 200MA portrays the AUD/JPY pair's weakness as it trades near 74.43 during the early Asian session on Thursday. However, oversold conditions of 14-bar relative strength index (RSI) around the channel support favor the odds of a pullback to 74.70 whereas 61.8% Fibonacci retracement of June month upside and channel-resistance, at 74.82 and 74.88 respectively, can question further advances. Should buyers manage to cross 74.88, 50% Fibonacci retracement level of 75.10 can offer… 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.
