AUD/JPY 4H Chart: Reveals new junior channel - Trade Pattern Ideas - Dukascopy Bank
Thu, 04 Apr 2019 05:33:43 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)
Sell
Sell
Neutral
Alligator(13;8;5)
Buy
Buy
Sell
SAR(0.02;0.2)
Buy
Buy
Buy
Aggregate
⇗
⇗
⇒
The Australian Dollar has appreciated about 1.95% in value against the Japanese Yen since March 28. A breakout occurred through the upper boundary of a dominant descending channel pattern during Monday's trading session.
A junior ascending channel is currently guiding the exchange rate towards a resistance cluster formed by the combination of the weekly and the monthly pivot points at 79.87.
Although, it is likely that the currency exchange rate makes a brief retracement towards a support level formed by the 100– and 200-hour simple moving averages near the 78.86 regions during the following trading sessions.
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