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Currently on the 4-hour chart, the AUD/JPY cross currency pair is seen to be in a Ranging-Sideways condition, but Buyers are still dominant even though their strength has begun to decrease, this can be seen from the appearance of the Ascending Broadening Wedge pattern and the movement of the EMA (21) which moves into the Candlestick bodies, but with the appearance of convergence between price movements and the Stochastic Oscillator indicator, it gives an indication that in the near future AUD/JPY has the potential to be corrected to weaken downwards where the level of 96.87 will be tried to be tested, but what is important is that as long as it does not break through and close below 96.27, then AUD/JPY today still has the opportunity to continue its strengthening, especially if it strengthens again and breaks through and closes above the level of 97.96. If this level is successfully broken, then AUD/JPY has the opportunity to continue its strengthening to 99.05 and if the momentum of strengthening and volatility support it, then AUD/JPY will strengthen to the area level of 101.23-102.58.
(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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