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AUD/JPY Price Analysis: Bears seek downside extension

  • AUD/JPY bears seeking a downside extension. 
  • The market is out of favour of the AUD and risk appetite is volatile. 

As per Chart of the Week: Commodity-FX in focus, bears in control, the focus is on the downside for the Aussie and commodity-fx. 

Last week, the following article, 07/23/2021: AUD/JPY Price Analysis: Daily resistance continues to hold noted the downside targets.

These have been extended somewhat due to the subsequent deeper penetration of the daily resistance of late illustrated below:

Daily chart, prior analysis

The price is meeting the prior daily lows and struggling to make further headway, and so long as the resistance holds, a downside extension could be on the cards:

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