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Weekly forecast Australian Dollar / Japanese Yen technical chart
Symbol AUDJPY

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Trading suggestion:

  • By appearing primary signs of entering the market, new entry zone and short-term targets would be published.

DateApril 18, 2020 - 20:47
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 64.400, beginning of uptrend is expected.
  • We make sure when the resistance at 70.700 breaks.
  • If the support at 64.400 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • The Falling Wedge taking shape and as a bullish pattern suggests we will soon see another leg higher if price breaks and closes above downtrend.
  • The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
  • A peak is formed in daily chart at 69.25 on 04/14/2020, so more losses to support(s) 67.70, 66.65 and minimum to Major Support (64.40) is expected.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 54.

Supports and Resistances:

  1. 90.30
  2. 85.85
  3. 82.75
  4. 80.70
  5. 76.55
  6. 72.40
Click on the level to view price action history.