Technical Analysis of Intraday Price Movement of AUD/JPY Cross Currency Pairs, Wednesday, October 18 2023.
October 18, 2023 12:22 pm
With the appearance of deviations between price movements and the RSI (4) indicator on the 4-hour chart, the AUD/JPY cross currency pair has the potential to continue its strengthening, where it is confirmed by the AUD.JPY price movement moving inside the channel that is going above and the Moving Average indicator is moving upwards that has an upward slope and the price movement is above it ,so that, based on these facts in the near future AUD/JPY has the opportunity to rally upwards to level 95.77 as the main target and level 96.86 as the next target to be aimed at if the momentum and volatility also increase and supports it. But if on its way to the levels previously discussed suddenly there is a significant downward correction until it breaks below the 93.99 level, then all the strengthening scenarios that have been described previously will become invalid and automatically cancel itself.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
With the appearance of deviations between price movements and the RSI (4) indicator on the 4-hour chart, the AUD/JPY cross currency pair has the potential to continue its strengthening, where it is confirmed by the AUD.JPY price movement moving inside the channel that is going above and the Moving Average indicator is moving upwards that has an upward slope and the price movement is above it ,so that, based on these facts in the near future AUD/JPY has the opportunity to rally upwards to level 95.77 as the main target and level 96.86 as the next target to be aimed at if the momentum and volatility also increase and supports it. But if on its way to the levels previously discussed suddenly there is a significant downward correction until it breaks below the 93.99 level, then all the strengthening scenarios that have been described previously will become invalid and automatically cancel itself.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
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