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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 Sell Zone (94.665 to 95.700). 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 (94.665)
  • Ending of entry zone (95.700)

DateNovember 20, 2022 - 16:32
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 98.580, beginning of downtrend is expected.
  • We make sure when the support at 87.359 breaks.
  • If the resistance at 98.580 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • While the RSI resistance #1 at 58 is not broken, the probability of price increase would be too low.
  • A peak is formed in daily chart at 95.545 on 11/01/2022, so more losses to support(s) 92.930, 92.122, 90.970 and minimum to Major Support (87.359) is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 47.

Take Profits:

  1. 92.930
  2. 92.122
  3. 90.970
  4. 89.659
  5. 87.359
  6. 86.175
  7. 83.865
  8. 82.032
  9. 80.200
Click on the level to view price action history.