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After successfully exiting its Ranging condition on its 4-hour chart, the AUD/JPY cross currency pair is now trying to test the 98.29 level, which is confirmed by the AUD/JPY price movement which is moving below the MA (50). If this level is successfully broken and closes below it, then AUD/JPY has the potential to continue its weakening to the 96.67 and 94.37 levels if momentum and volatility support it, but all of these weakening scenarios will be canceled by themselves if there is suddenly a strengthening correction that breaks and closes above the 100.27 level.
(Disclaimer)
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*El análisis de mercado publicado aquí tiene la finalidad de incrementar su conocimiento, más no darle instrucciones para realizar una operación.
