AUD/JPY 4H Chart: Sets for breakout - Trade Pattern Ideas - Dukascopy Bank

Thu, 14 May 2020 04:54:19 GMT
Source: Dukascopy Bank SA
 
Indicator4H1D1W
MACD(12;26;9)BuyBuySell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)NeutralBuySell
SAR(0.02;0.2)SellBuyBuy
Aggregate

The Australian Dollar has declined by 148 basis points or 2.11% against the Japanese Yen since this week's trading sessions. The currency pair tested the bottom border of an ascending channel pattern at 68.74 on Thursday morning.

Given that the AUD/JPY exchange rate is currently trading near the lower boundary of the ascending channel pattern, a breakout could occur during the following trading sessions.

However, if the ascending channel pattern holds, the currency exchange rate will most likely maintain the upward trend during next week's trading sessions.

Meanwhile, technical indicators suggest that bulls could prevail in the market in the nearest future.


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