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If we look at the 4-hour chart of the AUD/JPY cross currency pair, even though it is in a condition dominated by sellers, there is a deviation between the price movement of AUD/JPY which makes Lower-Low while the Awesome Oscillator indicator on the contrary forms Lower-High which gives an indication that in the near future AUD/JPY has the potential to strengthen again as long as there is no further weakening that breaks through and closes below 95.69, then AUD/JPY has the potential to test 97.74 where if this level is successfully broken and AUD/JPY successfully closes above that level, then AUD/JPY will continue to strengthen to the levels of 98.50 and 99.75 as the next targets if momentum and volatility support.
(Disclaimer)
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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