Technical Analysis – AUDJPY rebounds from 10-year low, but downtrend still in play
Posted on September 25, 2019 at 1:24 pm GMTAUDJPY fell to 69.95 in late August, a level not seen since 2009, but found fresh buy orders and managed to rebound. The price then touched 74.50, and retreated again, keeping the pattern of lower lows and lower highs on the daily chart intact and hence confirming that the longer-term downtrend is still in force. In the short-term though, the pair seems stuck in a sideways range between 74.50 and 69.95. Momentum oscillators mostly concur with the relative flat near-term [..]