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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.

DateNovember 21, 2020 - 15:41
Currentrange bound
Forecastbeginning of downtrend
Last weekBearish

Midterm forecast:

  • While the price is below the resistance 78.45, beginning of downtrend is expected.
  • We make sure when the support at 73.40 breaks.
  • If the resistance at 78.45 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • The RSI downtrend #1 is broken, so the probability of beginning of downtrend is decreased.
  • A peak is formed in daily chart at 77.10 on 11/11/2020, so more losses to support(s) 75.50, 74.70, 74.20 and minimum to Major Support (73.40) 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 53.

Supports and Resistances:

  1. 90.30
  2. 85.85
  3. 82.75
  4. 80.70
  5. 75.50
  6. 74.70
  7. 73.40
  8. 72.40
  9. 71.10
  10. 69.95
Click on the level to view price action history.