AUD/JPY 4H Chart: Decline likely to continue

The Australian Dollar has been declining in a descending channel pattern against the Japanese Yen since September 1. The currency pair breached the lower boundary of the channel pattern at 74.00 on September 28.

The exchange rate has declined by 2.00% since last week's trading sessions. Most likely, the AUD/JPY pair could continue to edge lower during the following trading days.

However, a support level at 74.50 could provide support for the currency exchange rate in the nearest future.


GBP/JPY 4H Chart: Bounces off support

The British Pound has been surging in an ascending channel pattern against the Japanese Yen since the middle of September. The currency pair has edged lower by 2.00% since last week's trading sessions.

Given that the exchange rate has bounced off from the lower line of the ascending channel pattern, bullish traders are likely to pressure the GBP/JPY pair towards the 140.00 level during next week's trading sessions.

However, a resistance cluster formed by the weekly and the monthly PPs and the 50– and 200– period SMAs near the 137.50 area could provide a barrier for the currency exchange rate in the shorter term.


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

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Analysis

Latest Forex Analysis

Editors’ Picks

AUD/USD: Consolidates heaviest gains in two weeks above 0.7100 amid cautious optimism

AUD/USD eases from weekly high of 0.7137 marked on Wednesday. Virus woes, dovish tone of Fed’s Bullard also probe the optimists. RBA’s Debelle, NAB Business Confidence will offer immediate direction, risk news remain as the main driver.


USD/JPY bounces off monthly low towards 105.00 as market optimism fades

USD/JPY retraces the biggest losses in two months from 104.34. S&P 500 Futures, Nikkei 225 drop around 0.50%, stocks in Pacific are also down. Japan’s All Industry Activity Index, risk catalysts will be the key to watch.


Gold bulls await fresh clues to probe monthly top below $1,950

Gold buyers catch a breather above $1,920 after posting the biggest gains in a fortnight. COVID-19 data from US states, Victoria propel fears of wider wave 2.0. US Initial Jobless Claims, aid package updates will be the key.

Gold News

WTI: Buyers lurk around 100-day EMA

WTI bounces off $39.83, the lowest in one week, to battle 50% Fibonacci retracement. EIA inventories recovered from -3.818M prior, -1.021M forecast. The energy benchmark dropped the lowest since October 15 the previous day.

Oil News

2020 Elections: Trump is is showing signs of a comeback, will the dollar follow?

"It ain't over till the fat lady sings" – goes the adage which is relevant for the 2020 Presidential Elections as well. Two weeks ahead of election day, there are signs that incumbent Donald Trump is clawing back some support, raising the chances that the race could drag on for longer.

Read more

Forex Majors