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AUDJPY technical analysis

The 4 hour time frame of the AUDJPY is presented in this analysis on a 4 hour timeframe.

Primary focus and attention is given to the bearish channel that is shown on the chart.

AUDJPY forecast, AUDJPY Technical analysis

Price action successfully closed above the channel that lasted for ~6.5 months on November 6, 2018 at ~81.73. A breakout of the downward sloping channel does provide a bullish bias, and the successful close of the AUDJPY above 82.409 indicates a double bottom chart pattern that has confirmed.

The latter pattern also having a bullish bias supports the notion of anticipating further higher prices in the AUDJPY.

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