AUD/JPY Technical Analysis: Falling wedge breakout
|- The AUD/JPY 15-minute chart shows a falling wedge breakout - a bullish setup, which indicates scope for a minor rally to resistance located at 81.75.
- The broader outlook remains bearish as indicated by the bear flag breakdown on the daily chart.
15-minute chart
Spot Rate: 81.23
Daily High: 81.24
Daily Low: 80.99
Trend: Mildly bullish
R1: 81.38 (5-day moving average)
R2: 81.55 (23.6% Fib R of 84.54-80.63).
R3: 81.75 (Former flag support-turned-resistance)
Support
S1: 81.00 (psychological support)
S2: 80.76 (March 28 low)
S3: 80.50 (March 23 low)
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