AUD/JPY 4H Chart: Upside potential - Trade Pattern Ideas - Dukascopy Bank

Thu, 17 Oct 2019 05:53:09 GMT
Source: Dukascopy Bank SA
 
Indicator4H1D1W
MACD(12;26;9)BuyBuySell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)BuyBuySell
SAR(0.02;0.2)BuyBuyBuy
Aggregate

Upside risks have been dominating the Australian Dollar versus the Japanese Yen since the beginning of October. The currency pair appreciated about 2.74% in value during last week's trading sessions.

A breakout had occurred through the upper boundary of a descending channel pattern. From a technical aspect, the exchange rate will most likely continue its bullish momentum within the following trading sessions. The potential target will be at the 76.00 area.

Furthermore, technical indicators flash buy signals on the 4(H) and the daily time-frame charts.


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