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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 (88.210 to 87.359). 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 (88.210)
  • Ending of entry zone (87.359)

DateFebruary 26, 2023 - 13:18
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 87.359, beginning of uptrend is expected.
  • We make sure when the resistance at 93.033 breaks.
  • If the support at 87.359 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • While the RSI support #1 at 42 is not broken, the probability of price decrease would be too low.
  • A peak is formed in daily chart at 93.010 on 02/15/2023, so more losses to support(s) 90.970, 90.051, 88.210 and minimum to Major Support (87.359) 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 51.