| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Buy | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Sell | Buy | Sell |
| SAR(0.02;0.2) | Sell | Sell | Sell |
| Aggregate | ⇘ | ⇒ | ⇘ |
The Australian Dollar has been trading in a triangle-like formation pattern against the Japanese Yen since early February. The currency pair re-tested the bottom border of the triangle pattern at 78.46 during the Asian session on Thursday.
The 200-hour simple moving average was providing resistance for the pair at 78.74 during the first half of today's trading session.
If this currency exchange rate passes the 200-hour SMA, the next target for bullish traders will be near the upper boundary of the triangle pattern at 79.32.
However, if the resistance level as mentioned earlier holds, a potential downside breakout could be expected during the following trading session.