- AUD/JPY (H4) Descending Triangle
- Poor forecast of September’s job figures
AUD/JPY has been trending downwards since the start of this week. At the moment, the downtrend is starting to slowdown ahead of the release of the Australian employment data tomorrow at 0830 (SGT). As a result, a Descending Triangle is formed.
Note that the forecast for September’s employment data is pretty bad with the resumption of COVID-19 restrictions in Victoria after a resurgence of COVID-19 cases. If the actual release of the employment data is at least as bad as forecasted, a potential sell of the AUD/JPY would be at 75.2.
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