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11 May 2020
AUD/JPY Price Analysis: Aussie corrects down, trades just below 70.00 figure vs. Japanese yen
- AUD/JPY bullish stance remains intact at the start of the new week.
- The level to beat for bulls is the 70.00 figure.
AUD/JPY daily chart
AUD/JPY is trading just below the 0.7000 while above the 50 SMA on the daily chart. The bullish stance remains intact as the currency cross is making higher highs and lows.
AUD/JPY four-hour chart
AUD/JPY is consolidating the advance seen last week while trading above the main SMAs on the four-hour chart. The bullish bias remains firmly in place with bulls looking at the 70.00 figure followed by the 71.00 level. Support is seen near the 69.25 and 68.50 levels in the medium-term.
Additional key levels