- Short-term rising triangle portrays the AUD/JPY pair moves.
- Steady RSI indicates less momentum unless either side breakouts.
With little momentum inside a week-long ascending triangle formation, the AUD/JPY pair takes the rounds to 74.60 during the early Asian session on Wednesday.
Not only immediate technical formation but lack of change in the 14-bar relative strength index (RSI) also signals redundant trade sentiment unless either side of the pattern breaks.
In doing so, a clear break of 74.80 resistance-line can propel the quote towards 75.00 and then to the 75.40.
On the flipside, 74.13 and 73.92 can entertain sellers on the slip beneath 74.40 pattern support.
AUD/JPY hourly chart
- R3 75.33
- R2 75.07
- R1 74.88
- PP 74.62
- S1 74.43
- S2 74.17
- S3 73.98
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