AUD/JPY 4H Chart: Triple Bottom

Source: Dukascopy Bank SA
© Dukascopy Bank SA
A rare triple bottom pattern has been emerging in the four-hour chart for the AUD/JPY currency pair. As the cross is nearing the 200-period SMA, we expect the future development to be determined quite soon. In case there is a consolidation above this moving average and weekly R1 at 85.44, we should observe additional advance in value up to 87.43. There the price will meet the pattern's horizontal boundary, which may reverse gains and force the Aussie to lose value again. This idea is largely shared by daily and weekly technical indicators. In the meantime, 71% of traders assume the pair's bullish potential has not been exhausted yet, meaning that the long term rally is not off the table.
© Dukascopy Bank SA
Back to articles

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.