FX.co ★ Technical Analysis of Intraday Price Movement of AUD/JPY Cross Currency Pairs, Wednesday July 31, 2024.

If we look at the 4-hour chart of the AUD/JPY cross currency pair, it appears that there is a deviation between its price movement and the MACD Histogram indicator, coupled with the condition of the EMA 20 which is below the EMA 50 and the price movement of the currency pair which is below both EMAs, then in the near future AUD/JPY has the potential to continue its weakening to the level of 98.96 if this level is successfully broken downwards and as long as there is no strengthening correction that breaks above the level of 102.99, then AUD/JPY still has the potential to weaken to the level of 97.73 as its main target and 96.49 as the next target if momentum and volatility support.

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