FX.co ★ Technical Analysis of Intraday Price Movement of AUD/JPY Cross Currency Pairs, Wednesday, March 06 2024.

On the 4-hour chart of the AUD/JPY cross currency pair, it can be seen that there is a hidden deviation between the AUD/JPY price movement and the Stochastic Oscillator indicator even though the condition is still dominated by Sellers as indicated by the price movement moving below WMA 30 Shift 2 which also has a slope. dived down but in the near future AUD/JPY has the potential to be corrected from its weakness and move stronger where the level of 97.96 will try to be tested to be broken upwards. If this level is successfully broken then AUD/JPY has the opportunity to continue strengthening up to level 98.09 as the main target and level 98.78 if Momentum and volatility also support it, but all of these strengthening scenarios will become invalid and cancel themselves if on their way to the target levels suddenly AUD/JPY weakens again and breaks below the 97.29 level.

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