AUD/JPY 4H Chart: Moving towards 80.02 - Trade Pattern Ideas - Dukascopy Bank
Fri, 11 Jan 2019 07:23:36 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD (12; 26; 9)
Buy
Sell
Sell
RSI (14)
Neutral
Neutral
Neutral
Stochastic (5; 3)
Sell
Sell
Neutral
Alligator (13; 8; 5)
Buy
Sell
Sell
SAR (0.02; 0.2)
Buy
Buy
Sell
Aggregate
⇗
⇘
⇘
The Australian Dollar has been appreciating against the Japanese Yen since January 3 when the currency pair reversed from a historical low at 70.00. The rate has gained about 10.59% of its values since the beginning of this year.
The exchange rate is trading near the upper boundary of a descending channel pattern at 77.94 and could be set for a breakout.
If this breakout occurs, the currency exchange rate will aim for a resistance level at 80.02.
However, if the descending channel pattern holds, the AUD/JPY pair will make a retracement towards the weekly and the monthly PPs at 75.33.
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