The AUD/JPY has formed a bearish pattern on MTF. We should see a downward move if the price stays below 73.25.
The AUD/JPY is supported around 72.50 but the latest RBA move failed to instill bullish impulse in the price. The cut was expected and the RBA cut the rate but the statement was neutral. Technically, the AUD/JPY should reject from 72.80 zone, staying below 73.35. Continuation will happen at the 4h close below 72.50 towards 71.99. Below 71.90, 71.05 is the target.
The analysis has been done with the CAMMACD.MTF template.
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