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AUD/JPY - To repeat the breakdown of 2007/2008? Time will tell!

FX_IDC:AUDJPY   Australian Dollar / Japanese Yen
Summary:

All signs are pointing to a significant breakdown in the AUD/JPY             ...

Commodity currencies are under extreme pressure due to a global slowdown and suppressed commodity prices.

In an extremely volatile and high risk market, investors will fly back into the Yen as a safe haven and dump commodity currencies.

We also have upcoming rate cuts coming out of the RBA, as well as a housing bubble that is soon to pop.

The crash in the Shanghai Index as well as slow growth out of China will put further pressure on the Australian Dollar             .

Technicals:

We have broken a significant 7 year trend-line on the Quarterly + Monthly Charts indicating upcoming bearish pressure

We are also resting within the 200/250 EMA's on the weekly chart. If we break below these EMA's, I believe the AUD/JPY             will start to turn. Be on the lookout for a possible EMA Death Cross in the near future

Looking at the daily, we are starting to put in lower highs and lower lows which may drive the AUD/JPY             lower.

This is something I will be keeping an eye on....
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