AUD/JPY Technical Analysis: Bullish breakout on the hourly chart
|- The AUD/USD has moved above 79.89 - the confluence of the upper end of the symmetrical triangle and 200-hour exponential moving average - signaling a bullish symmetrical breakout.
- The breakout indicates that the sell-off from the Oct. 2 high of 82.48 has ended at the recent low of 79.04 and has likely opened up upside toward 80.60 (Oct. 10 high).
- On the downside, a break below 79.48 would weaken the bullish case.
Hourly Chart
Spot Rate: 79.89
Daily High: 79.94
Daily Low: 79.68
Trend: Bullish above 79.89
R1: 80.14 (10-day EMA)
R2: 80.36 (38.2% Fib R of 82.51/79.04)
R3: 80.60 (Oct. 10 high)
Support
S1: 79.48 (previous day's low)
S2: 79.04 (Oct. 11 low)
S3: 78.68 (Sept. 7 low)
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