The 4 hour time frame of the AUDJPY is presented in this analysis on a 4 hour timeframe. Primary focus and attention is given to the bearish channel that is shown on the chart.
Price action successfully closed above the channel that lasted for ~6.5 months on November 6, 2018 at ~81.73.
A breakout of the downward sloping channel does provide a bullish bias, and the successful close of the AUDJPY above 82.409 indicates a double bottom chart pattern that has confirmed.
The latter pattern also having a bullish bias supports the notion of anticipating further higher prices in the AUDJPY.
Price action successfully closed above the channel that lasted for ~6.5 months on November 6, 2018 at ~81.73.
A breakout of the downward sloping channel does provide a bullish bias, and the successful close of the AUDJPY above 82.409 indicates a double bottom chart pattern that has confirmed.
The latter pattern also having a bullish bias supports the notion of anticipating further higher prices in the AUDJPY.
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