AUD/JPY 4H Chart: Breaches junior channel

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Buy Sell
RSI (14) Buy Neutral Neutral
Stochastic (5; 3) Buy Neutral Neutral
Alligator (13; 8; 5) Sell Buy Sell
SAR (0.02; 0.2) Sell Sell Sell
Aggregate

The Australian Dollar has appreciated about 2.12% in values against the Japanese Yen since January 30. However, after hitting the upper boundary of a dominant descending channel pattern, the exchange rate began to decline.

The currency pair broke a junior ascending channel pattern during the Asian session on Thursday.

Given that a breakout had occurred, it is likely that the Aussie will continue its decline within this session. 

The possible downside target in the shorter term will be near a support level formed by the weekly S3 at 76.75.

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