AUD/JPY Price Analysis: Bears seek downside extension
|- AUD/JPY bears seeking a downside extension.
- The market is out of favour of the AUD and risk appetite is volatile.
As per Chart of the Week: Commodity-FX in focus, bears in control, the focus is on the downside for the Aussie and commodity-fx.
Last week, the following article, 07/23/2021: AUD/JPY Price Analysis: Daily resistance continues to hold noted the downside targets.
These have been extended somewhat due to the subsequent deeper penetration of the daily resistance of late illustrated below:
Daily chart, prior analysis
The price is meeting the prior daily lows and struggling to make further headway, and so long as the resistance holds, a downside extension could be on the cards:
Live market update
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