AUDJPY

During the past week, the Australian Dollar has depreciated about 1.64% in value against the Japanese Yen. The currency pair was pressured down by the 50– and 100-hour SMAs.

By and large, it is likely that the AUD/JPY currency pair will continue its downward swing during the following trading sessions. The potential downside target will be near the bottom border of a medium-term descending channel pattern at 73.91.

However, a support cluster formed by the weekly and the monthly pivot points at 74.26 could hinder bears from dragging the currency exchange rate down in the nearest future.

fxsoriginal

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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