HomeContributorsTechnical AnalysisAUD/JPY 4H Chart: Bears Likely To Prevail

AUD/JPY 4H Chart: Bears Likely To Prevail

The Australian Dollar has declined by 112 pips or 1.31% against the Japanese Yen since this week’s trading session. The currency pair breached the 50– period SMA on May 13.

Technical indicators suggest selling signals on the 4H time-frame chart. Most likely, the exchange rate could continue to edge lower during the following trading session.

However, a support line at 84.50 could provide support for the AUD/JPY currency exchange rate in the shorter term.

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Dukascopy Swiss FX Grouphttp://www.dukascopy.com/
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

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