AUD/JPY 1H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Even though the Aussie/Yen currency pair experienced some weakness during two previous days, it is now expected to commence a rebound, even without reaching a lower trend-line of the bullish pattern. Currently, the pair is well-supported by the weekly R2 and 100-hour SMA at 94.26. These technical levels are estimated to provide the Australian Dollar with bullish momentum for future growth. The closest target is at 95.23 (weekly R3), which may create difficulties for AUD/JPY. While according to 4H technical studies, the pair may even bounce back from that level. Nevertheless, more than 71% of all SWFX traders are bullish on perspectives of the Aussie against the Japanese Yen.
© Dukascopy Bank SA
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