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USDJPY : Consolidating Within a Symmetrical Triangle Pattern, Bias Towards Decline

(USDJPY : Daily Chart)

AUDUSD seems like consolidating between the contracting trend lines forming a symmetrical triangle pattern. The pair might breakout from the resistance trend line or breakdown from the support trend line. Looking at the moving averages the 50 day SMA is contracting towards the 200 day SMA showing that the pair might decline breaking the rising support trend line of the triangle.

(USDJPY : 4 Hour Chart)

On the 4 hour chart,the moving averages are signaling that the pair will continue to follow sideways pattern. 50 day SMA might act as resistance for the pair preventing it to cross above it. Also there is a resistance at 101.73 which was previously acting as support for the pair and which the pair is currently testing. We might some decline from this level.