AUDJPY Chart Technical Outlook completes a bearish Bat formation, 104.66 intraday resistance
The cross has completed a bearish bat formation at 104.70. We are seeing a breakout move to the downside. Support is located at 103.93. Intraday resistance is located at 104.66. The preferred stance would be to sell into rallies. It should be noted that the bat formation is one of the weaker cypher patterns, as the 161.8% extension can sometimes be seen as a fourth-wave correction.
