FX.co ★ Technical Analysis of Intraday Price Movement of AUD/JPY Cross Currency Pairs, Wednesday, February 21 2024.

With the appearance of the hidden deviation between the price movement with Stochastic Oscillator indicator on the 4 hour chart of AUD/JPY cross currency pairs, as well as the price movement which moves inside the channel which dives upwards as well as above the WMA 30 shift 2 which is also has the upward slope where this also happens to coincide with the holding of the AUD/JPY weakening correction movement at the level of the Bullish Fair Value Gap area (Light Green Box) so in the near future AUD/JPY has the potential to continue its strengthening to test and try to breaks above the 98.58 level. If this level is successfully broken then AUD/JPY has the potential to continue strengthening up to level 99.16 provided that during its journey upwards there is no significant downward correction movement, especially until it penetrates below level 97.94 because if this level is successfully penetrated downwards then all the strengthening scenarios that have been described previously will become ineffective. valid and automatically cancel itself.

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