AUD/JPY 4H Chart: Meets support cluster

Source: Dukascopy Bank SA

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

Australian Dollar began appreciating against the Japanese Yen mid-August when it reversed from the lower boundary of a junior ascending channel at 79.70. The rate reached a three-week high on Friday. 

The Aussie is currency testing the weekly and the monthly pivot points near 81.26. If this support cluster remains intact during the following trading sessions, it is likely that the pair continues appreciating towards the upper boundary of a downtrend line.

Given that the 55-, 100-, and 200-hour simple moving averages are below the price, it is likely that the bullish momentum continues during the following hours.  

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.