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AUD/JPY Technical analysis

Long
Australian Dollar / Japanese Yen (FX:AUDJPY)  
traderpulse  
FX:AUDJPY   Australian Dollar / Japanese Yen
Trend Analysis Chart Patterns Inverse Head and Shoulders priceaction rsi_oversold
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trendanalysis chartpattern inverseheadandshoulders priceaction rsi_oversold
The pair has plunged after the Australian CPI data.
Now, it has formed an inverse head and shoulder pattern in the 15-min chart.
Also, the RSI indicator has backed up the bullish reversal formation with an inverse head and shoulder pattern of its own.
Hence, we expect the pair to pullback from the lows to the resistance of 78.870.
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