FX.co ★ Technical Analysis of Intraday Price Movement of AUD/JPY Cross Currency Pairs, Wednesday August 14, 2024.

Although currently on the 4-hour chart the AUD/JPY cross currency pair is correcting and strengthening and is trying to test its Dynamic Resistance at MA 200 (green), but with the appearance of a deviation pattern between the AUD/JPY price movement and the MACD Histogram indicator and the Rising Wedge pattern, in the near future AUD/JPY has quite a large potential to weaken again to test the 93.86 level, but as long as the weakening correction does not broken below the 91.53 level, AUD/JPY will strengthen again where the 97.63 level will be tested if it is successfully broken upwards, AUD/JPY will continue to strengthen to the 99.28 level as its main target and 101.40 as the next target to be targeted if momentum and volatility support.

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