AUDJPY Death Cross

These charts are the AUDJPY FX cross. Over the past four years this has synched really well with the SP500, this can be seen in the top chart (both represent Risk-on trades). - The second chart shows how this has recently completed a Death Cross. The third chart shows a breakdown from a 'Bear Flag' pattern over the past 3 days. A re-test of this breakdown near 76.30 (Current level 73.60) is a possibility, beyond that however the Bear Flag target is close to 60, though I would not rule out a full test of the 2008 low near 55.

Note: The short-term chart below shows 'Bullish Divergence' which supports the idea of some sort of re-test of the breakdown, though personally given the strong bearishness of the overall state of the market, this bullish divergence may unwind within a sideways motion.