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Weekly forecast Australian Dollar / Japanese Yen technical chart
Symbol AUDJPY

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (81.30 to 80.20). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

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

  • Beginning of entry zone (81.30)
  • Ending of entry zone (80.20)

DateMarch 19, 2022 - 21:32
Currentuptrend
Forecastcontinuation of uptrend

Midterm forecast:

  • 86.000 is a major support, while this level is not broken, the Midterm wave will be uptrend.

Technical analysis:

  • The RSI downtrend #1 is broken, so the probability of continuation of uptrend is increased.
  • A trough is formed in daily chart at 84.58 on 03/15/2022, so more gains to resistance(s) 88.86, 90.13, 92.71 and more heights 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 78.

Take Profits:

  1. 83.93
  2. 86.00
  3. 87.39
  4. 88.86
  5. 90.13
  6. 92.71
Click on the level to view price action history.