AUD/JPY 4H Chart: Stranded between SMAs - Trade Pattern Ideas - Dukascopy Bank

Mon, 21 Jan 2019 07:13:40 GMT
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 Neutral Sell
SAR (0.02; 0.2) Buy Buy Sell
Aggregate

The Australian Dollar is trading in a narrow ascending channel pattern against the Japanese Yen.

Currently, the currency pair is stranded between SMAs. The 200-hour simple moving average is providing resistance for the rate at 79.25, while the 50– and 100-hour SMAs are providing support at 77.57.

Technical indicators suggest that the currency exchange rate could continue its movement in the narrow ascending channel within this session. 

Although, the AUD/JPY exchange rate could reverse from the current price level and aim for the weekly S3 at 76.23.


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