Chart of the Day - AUDJPY - 20th September 2019

Possible Bear Flag?

Today we will take a look at the AUDJPY, looking at this pair on the daily chart we have fallen back to the broken trendline dating back to May, we will see if we hold the previous resistance that has now become support.

But with a large red daily candle pointing to further loss, we could see the hourly chart possibly form a bear flag, we note the recent fall and the parallel trendlines, with price still within the pattern.

If we can break the lower trendline we could see the lows of 73.12 or even 72.30.

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