The Australian Dollar is trading against the Japanese Yen in the short term ascending channel. The channel formed after the currency exchange rate broke through the neckline of the double top pattern and bounced off from the 61.80% Fibonacci retracement level, which is measured by connecting the 2016 high and low levels. For the moment, the rate it trying to reach the upper trend line of the channel facing no resistance on its way. Nevertheless, traders should watch carefully this pair, as the decreasing amplitude indicates on formation of the symmetrical triangle, which may lead to an earlier breakout.
| Level | Rationale | Indicator | 1H | 4H | 1D | |||
| R4 | 85.8570 | Weekly R2 | MACD (12; 26; 9) | Sell | Sell | Sell | ||
| R3 | 85.300 | Monthly R1 | RSI (14) | Buy | Buy | Sell | ||
| R2 | 84.441 | Weekly R1 | Stochastic (5; 3; 3) | Neutral | Neutral | Neutral | ||
| R1 | 83.740/46 | Upper Bollinger Band; | ADX (14) | Sell | Sell | Sell | ||
| S1 | 83.398/90 | Monthly PP; 200-period SMA | CCI (14) | Neutral | Neutral | Neutral | ||
| S2 | 83.2680 | 55-period SMA | AROON (14) | Neutral | Neutral | Neutral | ||
| S3 | 83.244/31 | Bottom Bollinger Band; Trend line | Alligator (13; 8; 5) | Buy | Buy | Buy | ||
| S4 | 83.1080 | Weekly PP | SAR (0.02; 0.2) | Neutral | Buy | Sell | ||
| Aggregate | → | → | ↘ |