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- AUD/JPY Price Analysis: Bears sinking in their teeth at H4 support
AUD/JPY Price Analysis: Bears sinking in their teeth at H4 support
- There are prospects of a bearish breakout for a run below 91 the figure.
- AUD/JPY is testing critical 4-hour support area.
AUD/JPY is pressured at the start of the week and extending the longer-term correction, breaking the unimportant 4-hour support level as illustrated in the following analysis.
AUD/JPY monthly chart
The price is finding resistance on attempts between 94 and 95.70.
AUD/JPY weekly chart
The price ended the week on the front foot and the wick is compelling as it reflects a lower time frame price action. There could be a test of prior resistance in the forthcoming sessions. Besides that, there are prospects of a downside correction in the medium term.
AUD/JPY daily chart
The bulls are tiring on the daily chart and while there is a possibility of the price moving higher for a test of the recent highs and resistance, the strength of the prior daily bearish impulse and recent deceleration of the corrections, the bias leans bearish.
AUD/JPY H4 chart
The 4-hour chart has the price moving in on the prior resistance/support structure. Bears need to get below there for prospects of a bearish breakout for a run below 91 the figure.
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