AUD/JPY - This 1.5 year long falling trendline is capping gains
Despite having breached a key resistance level of 79.00 last week, the pair is having a tough time rallying. On the daily chart, the 200-DMA is positioned at around 80.15 levels.
However, it is the falling trend line drawn from May 2015 high and Nov 2015 high that is acting as a strong resistance. If breached, the cross could run into another falling trend line resistance seen around 81.90 levels.
However, it is the falling trend line drawn from May 2015 high and Nov 2015 high that is acting as a strong resistance. If breached, the cross could run into another falling trend line resistance seen around 81.90 levels.
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