Technical Analysis of Intraday Price Movement of AUD/JPY Cross Currency Pairs, Wednesday May 29, 2024.



On the 4-hour chart of the AUD/JPY cross currency pair, you can see the appearance of a Bearish Divergent Bar which is the first Wiseman signal which has angulation with the Alligator indicator and is right in the position of the Awesome Oscillator which has a green histogram accompanied by the appearance of a deviation pattern between AUD/JPY price movements and Awesome Oscillator indicator which is one of the signs of a turning point from the previous bias direction so that if in the near future AUD/JPY manages to breaks below level 104,42 then AUD/JPY in the near future will have the potential to be corrected down to the level of the Bullish Fair area Value Gap on 104,12-104,01, but as long as the weakening correction does not broken below the 103,90 level, AUD JPY Today still has the potential to strengthen again and rise up to the 104,50 level and if this level is successfully broken above, the 104.83 level will be the main target to be aimed at and if momentum and volatility also support it, so it is not impossible that level 105.05 will be the next target.


The material has been provided by InstaForex Company - #

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