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

Share this post

Leave a Reply

Your email address will not be published. Required fields are marked *

User Agreement

Day Finance is an educational site and a platform for exchanging Forex information. All information contained on this web site is a personal opinion or belief of the author. None of these data is a recommendation or financial advice in any sense.
Terms And Conditions