AUD/JPY Price Analysis: Remains on the defensive near 93.50, within a descending trend channel – by lilyfinancial AUDJPY Crosses Technical Analysis
tic development from China boosts the Australian Dollar against its rivals. The Chinese Ministry of Commerce announced on Friday that China will lift its anti-dumping and anti-subsidy tariffs on Australian barley imports effective August 5.
From a technical perspective, AUD/JPY trades within a descending trend channel line from the middle of June on the four-hour chart. That said, the path of least resistance for the AUD/JPY is to the downside as the cross holds below the 50- and 100-hour Exponential Moving Averages .
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