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National Australia Bank technical analysis on AUD/yen ()note the time scale of the chart – this is a longer-term picture:
NAB note the break of the downtrend line but the upside is not yet secured.
- The September month-end close is now crucial. Above 77.40/60, MT
uptrend confirmation remains in play. Below 75.43 the risk of failure
and a multi-month downward correction becomes high.
This article was originally published by Forexlive.com. Read the original article here.