AUD/JPY 4H Chart: Tests weekly PP at 79.03 - Trade Pattern Ideas - Dukascopy Bank
Thu, 28 Feb 2019 07:10:31 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Buy
Sell
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Neutral
Neutral
Neutral
Alligator(13;8;5)
Neutral
Buy
Sell
SAR(0.02;0.2)
Sell
Buy
Sell
Aggregate
⇒
⇗
⇘
During the last week, the Australian Dollar appreciated about 1.82% against the Japanese Yen. This surge was stopped by a resistance level set by the weekly R1 at 79.72.
The exchange rate tested the lower band of an ascending channel during the morning hours of Thursday's trading session.
If a support level formed by the bottom border of the channel pattern as mentioned earlier holds, bullish traders could push the currency pair towards a psychological resistance level at 80.00 during the following trading sessions.
Meanwhile, technical indicators flash sell signals on the weekly time frame chart.
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