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Weekly forecast Australian Dollar / Japanese Yen technical chart
Symbol AUDJPY

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Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (84.55 to 84.95). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set sell orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (84.55)
    • Support on 11/20/2017
    • Support on 11/22/2017
    • Support on 11/23/2017
    • Support on 11/29/2017
    • Support on 11/30/2017
    • Support on 02/08/2018
    • Support on 02/09/2018
    • Support on 02/13/2018
    • Support on 02/14/2018
    • Resistance on 02/16/2018
    • Resistance on 02/19/2018
    • Resistance on 03/13/2018
    • Resistance on 06/06/2018
    • Resistance on 06/07/2018
    • Resistance on 02/25/2021
    • Resistance on 03/11/2021
  • Ending of entry zone (84.95)
    • Resistance on 02/14/2018
    • Resistance on 02/21/2018
    • Peak on 02/24/2021
    • Resistance on 02/25/2021

DateMarch 15, 2021 - 06:17
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 84.950, beginning of downtrend is expected.
  • We make sure when the support at 80.900 breaks.
  • If the resistance at 84.950 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • While the RSI support #1 at 50 is not broken, the probability of price decrease would be too low.
  • A peak is formed in daily chart at 84.95 on 02/24/2021, so more losses to support(s) 84.00, 82.75, 81.85 and minimum to Major Support (80.90) 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 67.

Take Profits:

  1. 84.00
  2. 82.75
  3. 81.85
  4. 80.90
  5. 79.60
  6. 78.45
  7. 76.85
  8. 75.50
  9. 73.10
Click on the level to view price action history.