AUD/JPY 4H Chart: Triangle formation

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)SellBuySell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)SellBuySell
SAR(0.02;0.2)SellSellSell
Aggregate

The Australian Dollar has been trading in a triangle-like formation pattern against the Japanese Yen since early February. The currency pair re-tested the bottom border of the triangle pattern at 78.46 during the Asian session on Thursday.

The 200-hour simple moving average was providing resistance for the pair at 78.74 during the first half of today's trading session.

If this currency exchange rate passes the 200-hour SMA, the next target for bullish traders will be near the upper boundary of the triangle pattern at 79.32. 

However, if the resistance level as mentioned earlier holds, a potential downside breakout could be expected during the following trading session.

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