AUD/JPY 4H Chart: Double Bottom

While in the one-hour chart the Aussie/Yen cross is trading inside the boundaries of ascending triangle pattern, in a longer-term time frame this currency pair formed a double bottom. At the same time, since the previous week the Australian Dollar has been recovering,  and the pattern's resistance is likely to be approached shortly. However, the main risk is now being created  by the 200-period SMA at 92.13. Judging by the weekly technical indicators, this line will reverse the Aussie back to the downside. Nonetheless, the immediate support is placed at 91.55 (monthly PP), which may push the pair beyond the upper boundary of 92.43. Moreover, 72% of SWFX traders are bullish at the moment.