Adnan
Long

AUSSIE-YEN PNF ANALYSIS

FX:AUDJPY   Australian Dollar / Japanese Yen
39 0 1
After the initial break below the 45 degrees line of support, the second 45 degree line of suppot is acting as support. At an intermediate time horizon, price action, has remained bullish , as the 45 degree line of resistance has been broken, shown by the flag.
Therefore, at an intermediate level, the Aussie may strengthen, but long term technicals should favor the yen.
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