AUD/JPY 4H Chart: Moving towards swing high at 84.00

Source: Dukascopy Bank SA

Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3) Neutral Neutral Neutral
Alligator (13; 8; 5) Neutral Neutral Neutral
SAR (0.02; 0.2) Buy Sell Buy
Aggregate

The Australian Dollar has been depreciating in an ascending channel against the Japanese Yen. The decline began when the currency pair reversed from the upper boundary of the channel pattern at 84.00 on December. This depreciation could be considered to be a short-term retracement.

The exchange rate broke a resistance cluster formed by the weekly and the monthly PPs and the combination of the three SMAs at 82.03 during the morning hours of Thursday's trading session.

The potential upside target for the currency exchange rate during the coming week will be at a swing high of 84.00.

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