AUD/JPY 1H Chart: Channel Up

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
The Australian Dollar is in an ascending channel pattern against the Japanese Yen, as the currency exchange rate recently confirmed the patter's upper trend line for the second time. The pair bounced off the resistance of the trend line combined with the monthly R1 at 81.54, and it moved lower. However, the AUD/JPY pair met with the weekly R3 at 80.38, and it has rebounded for the moment. In addition, daily aggregate technical indicators forecast, that the pair will once again move to the upper trend line before it moves lower. Meanwhile, the pair is overbought, as 75% of open SWFX positions are long, which indicates also at an upcoming sell off.
© Dukascopy Bank SA
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Fri, 15 Jul 2016 12:07:07 GMT

GBP/AUD 1H Chart: Channel Up

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