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19.12.202405:18 Forex Analysis & Reviews: Technical Analysis of Intraday Price Movement of AUD/JPY Cross Currency Pairs, Wednesday December 18, 2024.

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Exchange Rates 19.12.2024 analysis

With the appearance of the Three Little Indian pattern which is also a Bearish Wolf Waves pattern and supported by the appearance of deviations between the price movement of AUD/JPY which coincidentally also has a price movement below the EMA 21 which has a downward slope, it gives a strong indication that in the near future AUD/JPY has the potential to weaken to the level of 96.61 if this level is successfully broken and closed below it by AUD/JPY then the weakening will continue to the level of 96.02 and if the momentum and volatility support it then 95.60 will be the next target but all these weakening scenarios will be invalid if on the way to the target levels there is suddenly a significant strengthening especially if it breaks and closes above the level of 97.75.

(Disclaimer)

Arief Makmur
Analytical expert of InstaForex
© 2007-2024

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