AUD/JPY 4H Chart: Channel Up

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

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

The Australian Dollar is trading in a minor channel up against the Yen. The bottom channel line, however, still requires one additional confirmation. The price has returned near the 86.20 mark, being supported by the 55-period SMA since early June. Most technical indicators are still located in the bullish area, while trend signals demonstrate that there is no clear trend in the pair's movement. The rate is likewise approaching the 88.03 level —a 2016/2017 high reached mid-February. It is possible that the Aussie edges higher in the upcoming trading days; however, the 88.00 area might function as a strong psychological resistance. Meanwhile, a breakout of the 55-period SMA from above may indicate that the bearish sentiment has taken the upper hand.

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