AUD/JPY 4H Chart: Set for breakout - Trade Pattern Ideas - Dukascopy Bank
Thu, 14 Feb 2019 06:25:57 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Sell
Sell
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Neutral
Neutral
Neutral
Alligator(13;8;5)
Buy
Neutral
Sell
SAR(0.02;0.2)
Buy
Sell
Sell
Aggregate
⇗
⇘
⇘
The Australian Dollar has appreciated about 2.15% against the Japanese Yen since last week. The currency pair bounced off its lower boundary of a medium-term ascending channel at 77.50 on February 8 and had since breached both the 50-, 100– and 200-hour SMAs.
A breakout through the upper boundary of a dominant descending channel could be expected within this session.
If this breakout occurs, the currency exchange rate will target a swing high of 79.84.
However, if the pair fails to break the dominant channel, a decline toward the 200-hour SMA could follow.
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