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If we look at the 4-hour chart of the AUD/JPY cross currency pair, it appears that Buyers are starting to enter again, which is confirmed by the appearance of divergence between the AUD/JPY price movement against the MACD Histogram indicator (osMA-12,26,9) and its price movement moving above the WMA (30 Shift 2) so that as long as there is no significant weakening correction, especially if it breaks through and closes below the 95.92 level, then AUD/JPY today has the potential to appreciate up to the 98.44 level and if it successfully breaks through and closes above it, AUD/JPY will continue to strengthen to the 100.35 level if the strengthening momentum and volatility support it.
(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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