AUDJPY Ascending Triangle Consolidation & Breakout

24 ביוני 2015

In the AUDJPY, we can see that after a sharp upwards move, it has had difficulty breaking above the 96.7 resistance level. This lead to the formation of the highlighted ascending triangle. With major consolidation in the last couple weeks, and even maybe for some time to follow, we can possibly expect to see the pair break out and continue its move up.