- AUD/JPY drops below trendline rising from June 21 lows.
- Yen draws haven bids on the resurgence of coronavirus cases.
The lockdown fears fueled by the rising number of coronavirus cases in the US and the resulting risk-off in the US and Asian equities are pushing the anti-risk Japanese yen higher across the board.
The AUD/JPY pair is trading in the red near 74.31 at press time, representing nearly a 0.40% decline on the day.
The JPY cross has breached the ascending trendline rising from lows seen on June 21 and June 28, having dived out of a sideways channel early Friday, as seen on the 4-hour chart. The breakdown is backed by a below-50 or bearish reading on the 14-day relative strength index.
As such, the pair risks falling to the psychological support of 74.00 ahead of the weekend.
4-hour chart
Trend: Bearish
Technical levels
Reprinted from fxstreet, the copyright all reserved by the original author.
إخلاء المسؤولية: الآراء الواردة هنا تعبر فقط عن رأي الكاتب، ولا تمثل الموقف الرسمي لـ Followme. لا تتحمل Followme مسؤولية دقة أو اكتمال أو موثوقية المعلومات المُقدمة، ولا تتحمل مسؤولية أي إجراءات تُتخذ بناءً على المحتوى، ما لم يُنص على ذلك صراحةً كتابيًا.
اترك رسالتك الآن