FX.co ★ Technical Analysis of Intraday Price Movement of AUD/JPY Cross Currency Pairs, Wednesday, March 20, 2024.

On the 4-hour chart of the AUD/JPY cross currency pair, it can be seen that the existing bias is still dominated by the strength of Buyers, where this can be seen by the Golden Cross from the MA 20, 50, & 200 and the formation of the Bullish 123 pattern which is followed by several Bullish Ross Hooks (RH) but with the condition of the Stochastic Oscillator indicator which is at the Overbought level and getting ready to fall back below level 80, there is potential for AUD/JPY to be corrected to weaken down to level 98.26, but during the correction the weakening will not exceed below level 97.66 AUD/JPY there is still a chance to strengthen again to level 99.00.

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