After hitting the upper boundary of both the senior and the junior patterns at 84.54 On June 6, the AUD/JPY exchange rate changed its sentiment and began a new wave down. However, during the past two weeks, the Australian Dollar has been moving sideways against the Japanese Yen.
The decline has sent technical indicators to be on a neutral zone, especially in the shorter term.
Everything being equal, a breakout from the trading could be expected during the following trading sessions. In addition, technical sentiment suggests that the decline could continue in the longer term.
