FX.co ★ Technical Analysis of Intraday Price Movement of AUD/JPY Cross Currency Pairs, Wednesday, September 06 2023.

On the hourly chart of AUD/JPY cross currency pairs, it is clearly visible that the Stochastic indicator is getting ready to break above the Oversold level (20) and at the same time the AUD/JPY price movement is halted by the support level formed from the Bullish Propulsion Block at the level so that based on these facts in the near future AUD/JPY has the potential to rally up to test the 94.26 level. If this level is successfully broken above, there is a potential for AUD/JPY to continue strengthening up to the 94.65 level, but keep in mind that it is on its way to these targets. suddenly there is a significant correction to break below the level of 93.53 then all the strengthening rally scenarios that have been described previously will become invalid and cancel by themselves.

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