AUD/JPY Price Analysis: Bears in control, eye daily extension

AUD/JPY bears are in control and eye a downside daily extension.
The price has been met with supply following a significant correction.

Ross J Burland FXStreet

AUD/JPY is moving to the downside following a 50% mean reversion of the prior bullish daily impulse.

The following illustrates the bearish bias.

AUD/JPY daily chart

The price is in a bearish trend and given the recent correction that has started to run out of momentum, there are prospects of a continuation to the downside.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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