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Weekly Technical Perspective on AUD/JPY
AUD/JPY has continued to trade within a well-defined range for nearly ten weeks now with major event risk this week likely to be a catalyst for the break and to offer clarity on our medium-term price outlook. Key support rests at 81.58/97 where the 2015 & 2017 lows converge on basic trendline support extending off the 2016 lows. Range resistance stands at the 2017 open / 100% extension at 84.25/71. A downside break of this range targets the 1.618% extension of the 2017 decline at 79.45. A topside breach of this range (alongside a break above the pending RSI resistance trigger) eyes subsequent confluence ... (full story)