AUD/JPY 4H Chart: Meets support cluster

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

The Australian Dollar has depreciated about 405 base points against the Japanese Yen since the middle of April. The currency pair has revealed a new junior descending channel pattern.

Currently, the AUD/JPY exchange rate is testing a resistance cluster formed by the combination of the weekly and the monthly pivot points at 76.53.

If this support level holds, a surge towards the 50-hour simple moving average could be expected in the short-term.

Although, if the currency exchange rate passes the PPs, a decline towards the monthly S3 at 74.95 could follow during the following trading sessions.

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