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Weekly forecast Australian Dollar / Japanese Yen technical chart
Symbol AUDJPY

Trading suggestion:

  • We have already opened Sell trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.

DateNovember 26, 2022 - 22:52
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 49.

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.