AUD/JPY hints at bullish trend reversal
The combination of Australia announcing a reopening of their international borders and a rebound of business confidence saw AUD/JPY as one of the strongest pairs yesterday. Price action also warns of a bullish trend reversal on the daily chart.
We can see on the daily chart that AUD/JPY opened at the session low and closed near its session high yesterday, clearing several technical resistance levels including the 19 and 9-day eMA and a descending trendline. Whilst this is against our initial bias (which failed to be triggered with a break beneath 81.28) it does put the counter-bias into focus which was discussed yesterday.
The combination of Australia announcing a reopening of their international borders and a rebound of business confidence saw AUD/JPY as one of the strongest pairs yesterday. Price action also warns of a bullish trend reversal on the daily chart.
We can see on the daily chart that AUD/JPY opened at the session low and closed near its session high yesterday, clearing several technical resistance levels including the 19 and 9-day eMA and a descending trendline. Whilst this is against our initial bias (which failed to be triggered with a break beneath 81.28) it does put the counter-bias into focus which was discussed yesterday.
Trade closed: target reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.