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Weekly forecast Australian Dollar / Japanese Yen technical chart

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Trading suggestion:

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

DateApril 14, 2019 - 10:39
Forecastcontinuation of uptrend
Last weekBullish

Midterm forecast:

  • 79.60 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.
  • While the RSI uptrend #2 is not broken, bullish wave in price would continue.
  • A trough is formed in daily chart at 77.55 on 03/25/2019, so more gains to resistance(s) 81.00, 82.75, 84.55 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 64.

Supports and Resistances:

  1. 90.30
  2. 89.05
  3. 85.85
  4. 82.75
  5. 81.00
  6. 79.60
  7. 77.65
  8. 76.80
  9. 72.50
Click on the level to view price action history.