Technical Analysis – AUDJPY extends correction, flirts with 50-SMA

AUDJPY plotted five days of gains after a four-month decline to a 10 1/2-year low of 69.94. The bulls are currently facing some downside pressure from the 50-day simple moving average (SMA) as well as the near downtrend line. The indicators are reflecting an increasing bullish momentum, with the MACD rising in negative territory, distancing […]