AUD/JPY 1H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
AUD/JPY has been vacillating between two upward sloping lines for the last 71 hour and is likely to prolong its trend in the foreseeable future. Market sentiment is strongly bullish, with 82.54% of traders betting on the appreciation of the pair. Meanwhile, technical indicators neither bolster nor gainsay the bullish outlook, sending mixed signals. To meet the traders' expectations, the currency couple has to test the four-hour resistance at 93.99 and then target the daily resistance at 94.12 where the pair may halt the rally given strong selling pressure that may start to push the pair lower not to allow AUD/JPY to surpass the pattern's resistance.
© Dukascopy Bank SA
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