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Jan 13 - 01:24 PM
AUD/JPY: Low-Conviction State; Needs A Weekly Close Below 74.00 Or Above 77.15 - NAB
First appeared on eFXplus on Jan 13 - 11:45 AM

NAB discusses AUD/JPY technical outlook and adopts a low-conviction bias around current levels.

"MT momentum triggers (weekly RSI / MACD) imply that the MT uptrend is now sustainable. LT momentum bias is also positive," NAB notes. 

While recent price action confirms that the multi-month uptrend is likely complete, we cannot ignore the multitude of positive MT/LT price triggers. We must reserved judgement on a directional view until we see a weekly close below / above the trend channel at 74.00 / 77.15," NAB adds. 

Source:
NAB Research/Market Commentary

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