FX.co ★ Technical Analysis of Intraday Price Movement of AUD/JPY Cross Currency Pair, December 14, 2022.

On the 4 hour chart, AUD/JPY cross currency pairs has :

1. The deviation between price movement with CCI Indicator.

2. The appearace of Ascending Broadening Wedge Pattern.

Based on two things above, then AUD/JPY has the potential to depreciate in the near future where the level of 91.94 will be the main target to be tested if it turns out to be penetrated, it is very likely that AUD/JPY will continue its decline to the level of 91.08 but because tonight there will be the release of the predicted US Fed Fund Rates to make market movements volatile, please pay attention to the 93.30 level because if this level can be exceeded then all the downward scenarios previously described will cancel by itself.

(Disclaimer)