AUDJPY SHORT/Breakout

As we can see, The AUDJPY has formed an Ascending Triangle pattern,even though this is a bullish chart pattern. Breakouts can also happen in both directions. Statistically, upward breakouts are more likely to occur, but downward ones seem to be more reliable.

This analysis is based purely on Technical analysis, Fundamentally, the Australian Dollar is stronger due to the high demand of steel by the Chinese steel production companies this month.