On the 4 hour chart of AUD/JPY it appears that Sellers are dominating where this is confirmed by the 20 EMA which is below the 50 EMA and the AUD/JPY price movement is below both EMAs but the price movement of this currency pair creates a deviation between the price movement and the indicator The AMCD Histogram gives an indication that in the near future AUD/JPY has the potential to be corrected to strengthen up to level 103.97, but as long as the strengthening correction does not penetrate above level 105.63 then AUD/JPY will continue to weaken up to level 101.41 and if momentum and the volatility is supportive then level 99.83 will be the next target to aim for.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.comOn the 4 hour chart of AUD/JPY it appears that Sellers are dominating where this is confirmed by the 20 EMA which is below the 50 EMA and the AUD/JPY price movement is below both EMAs but the price movement of this currency pair creates a deviation between the price movement and the indicator The AMCD Histogram gives an indication that in the near future AUD/JPY has the potential to be corrected to strengthen up to level 103.97, but as long as the strengthening correction does not penetrate above level 105.63 then AUD/JPY will continue to weaken up to level 101.41 and if momentum and the volatility is supportive then level 99.83 will be the next target to aim for.(Disclaimer)The material has been provided by InstaForex Company – www.instaforex.com Read More
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