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The exchange rate of the AUDJPY from mid-February this year. moves in a horizontal trend. Due to ever lower lows and ever-higher lows, instead of the classic consolidation, we are creating here a triangle formation. Looking at the H4 chart, we notice that as a result of the last week’s increases, the rate has once again reached the line of the downward trend that is the upper limit of the above-mentioned formation. The appearance of a strong supply reaction here and a permanent rejection of this resistance could open again the way for declines on this instrument.
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