AUDJPY SHORT/Breakout
As we can see, The AUDJPY has formed an Ascending Triangle pattern,even though this is a bullish chart pattern. Breakouts can also happen in both directions. Statistically, upward breakouts are more likely to occur, but downward ones seem to be more reliable.
This analysis is based purely on Technical analysis, Fundamentally, the Australian Dollar is stronger due to the high demand of steel by the Chinese steel production companies this month.
This analysis is based purely on Technical analysis, Fundamentally, the Australian Dollar is stronger due to the high demand of steel by the Chinese steel production companies this month.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.