AUD/JPY 4H Chart: Breaches channel pattern

The Australian Dollar versus the Japanese Yen depreciated about 0.95% in value during last week's trading sessions. The currency pair breached the bottom border of an ascending channel at 75.29 during the Asian session on Thursday.

The exchange rate tested a support cluster formed by the combination of the 100– and 200-hour SMAs and the weekly and monthly PPs at 75.21 during the morning hours of today's trading session.

If this support cluster holds, a surge towards the weekly R1 at 76.30 could be the target for bullish traders next week.

However, if the pair passes the cluster as mentioned above, a decline towards the swing low at 74.57 could be expected in the short term.



GBP/JPY 4H Chart: Pressure by 50– and 100-hour SMAs

The GBP/JPY currency pair has continued to edge lower after the pair reversed from the upper boundary of a descending channel pattern at 137.77. The British Pound has depreciated about 1.92% in value since July 1.

Everything being equal, it is likely that the exchange rate will continue its movement in the descending channel pattern during the following trading sessions. The potential target will be at 133.98.

However, a support level formed by the weekly S1 at 134.81 could provide support for the currency exchange rate in the nearest future.


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.

Analysis feed

Latest Forex Analysis

Editors’ Picks

EUR/USD holds onto gains above 1.1150 amid Brexit, trade headlines

EUR/USD is trading above 1.1150, holding onto gains. The common currency was swept higher with Brexit optimism and after China said concrete progress with the US. The USD remains on the back foot.


GBP/USD trades around 1.30 amid Brexit developments

GBP/USD has retreated from the fresh highs above 1.30, as UK House Speaker Bercow is set to announce if parliament will debate the Meaningful Vote on Brexit again. 


USD/JPY ticks higher, up little around mid-108.00s

The USD/JPY pair edged higher on the first day of a new trading week and is currently placed at session tops, just above mid-108.00s.


Top 3 price prediction BTC, ETH, XRP: Building on future profits

The trading week is kicking off with a continuation of the last week's scenario. The consolidation process continues and deepens, especially in the relationship between Ethereum and Bitcoin.

Read more

Gold: Sidelined near $1,490 after PBOC's rate decision

Gold's struggle for clear directional bias continues after the People's Bank of China's (PBOC) interest rate decision. The yellow metal has been restricted largely to a narrow range of $1,500 to $1,480 since last Monday.

Gold News

Forex Majors