Ransquawk

The situation on the daily chart of the AUD/JPY pair looks interesting in technical terms. Good economic readings and the relaxation of, at least verbal, tensions between China and the US have served the Australian currency, which has recently been one of the strongest. A strong demand impulse from the turn of October and November led to the breakdown of the downward trend line, and the price went above the level of the last high. Last sessions are corrections that have two equal downward parts. Such a system encourages further increases and is better visible at the H4 interval. A strong rebound from yesterday may be the beginning of its end and a return to increases. The next goal of the demand side should be setting a new high.

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Ransquawk