AUD/JPY 4H Chart: Slight upside move still likely - Trade Pattern Ideas - Dukascopy Bank

Thu, 31 Oct 2019 07:05:44 GMT
Source: Dukascopy Bank SA
 
Indicator4H1D1W
MACD(12;26;9)BuyBuySell
RSI(14)SellSellNeutral
Stochastic(5;3;3)SellSellSell
Alligator(13;8;5)BuyBuySell
SAR(0.02;0.2)BuyBuyBuy
Aggregate

Upside risks have been dominating the Australian Dollar against the Japanese Yen since October 10 after the currency pair made a U-turn from the lower boundary of an ascending channel pattern at 72.00.

Bullish momentum will likely continue to dominate the AUD/JPY exchange rate within the following trading sessions. The potential target will be at the 76.12 regions.

However, the currency exchange rate is expected to make a brief retracement towards a support cluster formed by the weekly S1 and the 100– period SMA at 73.83 in the nearest future.


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