AUD/JPY 4H Chart: Potential breakout

Note: This section contains information in English only.
Source: Dukascopy Bank SA

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

The bullish sentiment that began early September has guided the AUD/JPY currency pair higher towards the upper boundary of a descending trend line at 82.50.

The exchange rate reversed from the upper border of the downtrend line a few days ago and currently trading near the bottom boundary of a one-month ascending channel at 80.54.

Given that the three SMAs are located above the price level, it is expected that the currency exchange rate breaks the one-month ascending channel pattern within this session.

Moreover, technical indicators suggest that the bearish momentum might aim at the monthly S1 at 79.76 during the following trading sessions.

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