AUD/JPY 4H Chart: Tests support cluster - Trade Pattern Ideas - Dukascopy Bank
Thu, 14 Nov 2019 06:56:57 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD(12;26;9)
Sell
Buy
Sell
RSI(14)
Buy
Neutral
Neutral
Stochastic(5;3;3)
Neutral
Buy
Neutral
Alligator(13;8;5)
Sell
Buy
Neutral
SAR(0.02;0.2)
Sell
Sell
Buy
Aggregate
⇘
⇗
⇒
The Australian Dollar has depreciated about 2.36% in value against the Japanese Yen since November 7. The currency pair is currently testing a support cluster formed by the 200– period simple moving average and the combination of the weekly S2 and the monthly pivot point near the 73.93 area.
If the support cluster holds, a potential upside reversal could occur during the following trading sessions.
However, if the currency exchange rate breaks the 200– period SMA, bearish traders are likely to continue to dominate the AUD/JPY currency pair in the nearest future.
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