AUD/JPY Attempts to Breakout of Descending Channel
AUD/JPY appears to be breaking out of the descending channel from earlier this year as it attempts to trade above the 50-Day SMA (94.65).
AUD/JPY Rate Outlook
AUD/JPY registers a fresh weekly high (95.06) as it carves a series of higher highs and lows, and the exchange rate may attempt to retrace the decline from the monthly high (95.81) if it continues to hold above former-channel resistance.
Need a break/close above the 95.30 (50% Fibonacci extension) to 96.10 (78.6% Fibonacci retracement) to bring the July high (96.83) on the radar, with the next area of interest coming in around 97.40 (61.8% Fibonacci extension) to 97.90 (23.6% Fibonacci extension).
However, failure to hold above the moving average may keep AUD/JPY within in the monthly range as the indicator reflects a negative slope, with a move below the 93.90 (61.8% Fibonacci retracement) to 94.40 (23.6% Fibonacci retracement) area raising the scope for a move towards 91.70 (38.2% Fibonacci retracement).
AUD/JPY Rate Outlook
AUD/JPY registers a fresh weekly high (95.06) as it carves a series of higher highs and lows, and the exchange rate may attempt to retrace the decline from the monthly high (95.81) if it continues to hold above former-channel resistance.
Need a break/close above the 95.30 (50% Fibonacci extension) to 96.10 (78.6% Fibonacci retracement) to bring the July high (96.83) on the radar, with the next area of interest coming in around 97.40 (61.8% Fibonacci extension) to 97.90 (23.6% Fibonacci extension).
However, failure to hold above the moving average may keep AUD/JPY within in the monthly range as the indicator reflects a negative slope, with a move below the 93.90 (61.8% Fibonacci retracement) to 94.40 (23.6% Fibonacci retracement) area raising the scope for a move towards 91.70 (38.2% Fibonacci retracement).
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.