AUDJPY Chart Technical Outlook could continue lower to complete a corrective pattern
AUDJPY’s broad bias is bullish due to the monetary policy divergence between the RBA and the BoJ as the latter maintained its ultra-loose policy.
The pair corrects June’s rally and has more room for declines amid risk-off sentiment. It completed wave A of the ABC corrective pattern. I expect an intraday upward price action to meet sellers, pushing the pair lower to its 38.2% Fibo level.
Resistances: 96.75, 97.60
Supports: 95.50, 94.80