AUD/JPY 4H Chart: Declines in Larger Trend

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

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

On the chart shown one can still see the previous ascending channel pattern, which was broken due to bouncing off the resistance of a dominant channel down pattern. 

As a result of the bounce off the pair started forming a channel down pattern, which can be mapped only now, as the par has made a sudden stop below the 87.40 mark. Meanwhile, it has to be noted that the pair passed a rather dominant support line during the decline.

In regards to the future outlook, the pair is set to continue the decline in accordance with the newly discovered channel and slowly pass various weekly and monthly support levels until it reaches the lower trend line of the dominant channel near 86.40.

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