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

Thu, 14 Mar 2019 06:50:46 GMT
Source: Dukascopy Bank SA
 
Indicator4H1D1W
MACD(12;26;9)BuySellSell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralSellNeutral
Alligator(13;8;5)BuySellSell
SAR(0.02;0.2)BuySellSell
Aggregate

The Australian Dollar has been trading in a long-term descending channel pattern against the Japanese Yen. However, the currency pair has revealed a new medium-term ascending trendline since the beginning of 2019.

The exchange rate was stranded between SMAs during the morning hours on Thursday. Technical indicators flash strong sell signals on the daily time-frame chart. Therefore, a decline towards the lower band of an uptrend line at 78.00 could be expected.

On the other hand, bullish traders might pressure the pair within this trading session.


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