FX.co ★ Technical Analysis of Intraday Price Movement of AUD/JPY Cross Currency Pairs, Wednesday December 18, 2024.

With the appearance of the Three Little Indian pattern which is also a Bearish Wolf Waves pattern and supported by the appearance of deviations between the price movement of AUD/JPY which coincidentally also has a price movement below the EMA 21 which has a downward slope, it gives a strong indication that in the near future AUD/JPY has the potential to weaken to the level of 96.61 if this level is successfully broken and closed below it by AUD/JPY then the weakening will continue to the level of 96.02 and if the momentum and volatility support it then 95.60 will be the next target but all these weakening scenarios will be invalid if on the way to the target levels there is suddenly a significant strengthening especially if it breaks and closes above the level of 97.75.

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