FX.co ★ Technical Analysis of Daily Price Movement of AUD/JPY Cross Currency Pairs, Wednesday, February 07 2024.

If we look at the daily chart of the AUD/JPY cross currency pair, we will see a Bullish 123 pattern followed by a Ross Hook (RH) followed by the appearance of hidden deviations between the Gold price movement on the daily chart and the Stochastic Oscillator indicator which also happens to be currently Gold. stuck at the Support Area level which is formed from the Bullish Fair Value Gap so based on these facts AUD/JPY has the potential to strengthen upwards to level 97.40 as the main target and if the momentum and volatility are sufficient to support it then it is not impossible that level 98.49 will be the next target. will be aimed at, but all of these strengthening scenarios will automatically cancel if AUD/JPY, on its way to strengthening, suddenly experiences a downward correction and weakens until it penetrates below the 94.54 level.

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