AUD/JPY 1H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Following a dip down to the level of 90 during the first days of March, bulls have finally taken control of AUD/JPY and forced the currency pair to erase most of the recent losses.
However, while the up-trend support line does appear to be rather reliable, the upper boundary of the emerging pattern has not yet been confirmed on many occasions. Accordingly, it is highly likely that the demand area around 91.60 is not going to let the rate to drop. In the meantime, there is much less confidence that the resistance at 92.35 will be sufficient in order to prevent accelerated appreciation of the Aussie relative to the Japanese Yen in the future.

© Dukascopy Bank SA
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Wed, 05 Mar 2014 12:55:04 GMT

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Wed, 05 Mar 2014 08:21:30 GMT

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