AUD/JPY 4H Chart: Expects to trade sideways

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

During the past week, the Australian Dollar has depreciated about 195 base points against the Japanese Yen. The currency pair breached the 50-, 100– and 200-hour SMAs during this short period.

Given that the three moving averages are above the price level, it is likely that the currency exchange rate will continue to edge lower in the shorter term. The potential downside target will be near the monthly support level at 77.60. 

However, the AUD/JPY currency pair could consolidate below the monthly pivot point at 78.62 until the end of this week's trading sessions.

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