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Weekly forecast Australian Dollar / Japanese Yen technical chart
Symbol AUDJPY

Trading suggestion:

  • By appearing primary signs of entering the market, new entry zone and short-term targets would be published.

DateNovember 19, 2023 - 04:59
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 93.003, resumption of uptrend is expected.
  • We make sure when the resistance at 98.553 breaks.
  • If the support at 93.003 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

  • The RSI downtrend #1 is broken, so the probability of resumption of uptrend is increased.
  • A trough is formed in daily chart at 96.020 on 11/10/2023, so more gains to resistance(s) 97.637 and maximum to Major Resistance (98.553) 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 60.

Supports and Resistances:

  1. 98.553
  2. 94.570
  3. 93.777
  4. 93.003
  5. 92.254
  6. 90.830
  7. 90.051
  8. 89.020
  9. 87.016
  10. 85.904
Click on the level to view price action history.