FX.co ★ Technical Analysis of Intraday Price Movement of AUD/JPY Cross Currency Pairs, Wednesday May 15, 2024.

With the Golden Cross crossing of the EMA 50 which is above the EMA 200 on the 4 hour chart, the AUD/JPY cross currency pair clearly gives an idea that Buyers still dominate the cross currency pair on the 4 hour chart, but with the appearance of deviations between AUD/JPY price movements and The Stochastic Oscillator indicator gives a hint that in the near future there will be a weakening correction in AUD/JPY which has the potential to fall lower to the level of 103.05, but as long as the weakening correction does not fall further below the level of 102.69 then AUD/JPY still has the opportunity to continue strengthening again today up to level 103.64 as the main target and if the momentum and volatility are supportive enough then it is not impossible that level 104.85 will be the next target to be aimed at.

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