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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 (96.870 to 98.580). 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 (96.870)
  • Ending of entry zone (98.580)

DateSeptember 24, 2022 - 17:25
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:

  • The RSI uptrend #1 is broken, so the probability of beginning of downtrend is increased.
  • A peak is formed in daily chart at 98.580 on 09/13/2022, so more losses to support(s) 92.270, 91.000, 88.860 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 36.

Take Profits:

  1. 95.712
  2. 94.060
  3. 92.270
  4. 91.000
  5. 88.860
  6. 87.359
  7. 86.000
  8. 73.100
Click on the level to view price action history.