0714 GMT - AUD/JPY's fall over the past four sessions has begun to show potential bullish reversal signs, based on technical analysis, says Kelvin Wong, senior market analyst at Oanda, in an email. First, AUD/JPY's movements on Tuesday have formed a daily bullish reversal "Dragonfly Doji" candlestick, just above the 20-day moving average, Wong says. Second, the currency pair's hourly relative strength index has staged a bullish breakout above the 50 level, Wong says. AUD/JPY's short-term pivotal support is at 96.85, while its key long-term secular resistance is at 98.40, Wong adds. AUD/JPY is up 0.1% at 97.38. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
November 22, 2023 02:14 ET (07:14 GMT)
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