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Longer term AUD/JPY levels to watch

National Australia Bank technical analysis on AUD/yen ()note the time scale of the chart – this is a longer-term picture:

NAB note the break of the downtrend line but the upside is not yet secured.

  •  The September month-end close is now crucial. Above 77.40/60, MT uptrend confirmation remains in play. Below 75.43 the risk of failure and a multi-month downward correction becomes high.  

Source: NAB Technical analysis

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