AUDJPY: Park the brake at the lower end of the tight range
Since mid-March, the cross AUDJPY has been locked between 80.50-84.55. On Tuesday session the cross fell as far as 80.60 tested and held the lower-end of the range and recovered to 81.20. At higher time frames, the charts are appearing more bearish.
http://www.keytomarkets.com/blog/blog/ktm-fx-risk-aversion-favors-the-yen-usdjpy-and-audjpy-insights/
The cross spotted with a bearish H&S pattern pointing to the neckline(monthly) finds between 73.30-72.00. This view will be strengthened if the price close below the 61.8% fib reaction finds at 79.80 (73.30-90.30 rally).
http://www.keytomarkets.com/blog/blog/ktm-fx-risk-aversion-favors-the-yen-usdjpy-and-audjpy-insights/
The cross spotted with a bearish H&S pattern pointing to the neckline(monthly) finds between 73.30-72.00. This view will be strengthened if the price close below the 61.8% fib reaction finds at 79.80 (73.30-90.30 rally).