Patterns: AUD/JPY AUD/CAD

AUD/JPY 4H Chart: Targets at 80.87

The AUD/JPY exchange rate has been trading in a descending channel since mid-July. The medium-term descending channel pattern guided the currency pair toward November 16, 2016 low level at  78.77 a few days ago.

However, after reaching its lowest level since 2016, the pair made a U-turn north. As a result, the rate has breached both the 50– and 100-hour simple moving averages.

Everything being equal, it is likely that the Australian Dollar continues to gain strength against the Japanese Yen during the following trading sessions. The next targets for the pair could be the 200-hour SMA at 80.87.

 

AUD/CAD 4H Chart: Bearish momentum

A medium-term descending channel has guided the price movement of the AUD/CAD currency pair. The pair tested the lower boundary of the channel pattern on September 12 and had since made a brief retracement to the upside.

Currently, the exchange rate is trading below the 50-hour simple moving average and the weekly pivot point at 0.9334.

Technical indicators suggest that the bearish momentum is likely to continue within this session. The potential target for bearish traders could be near a support cluster formed by the combination of the weekly and the monthly PPs at the 0.9270 mark.

                            Start Trading with Free $30    : CLAIM NOW $30

VERIFY YOUR ACCOUNT AND GET YOUR $30 INSTANTLY ,MAKE MONEY WITHDRAW !!

               IT IS POSSIBLE TO SHIFT FROM $30  TO  $1,000,000  TRY  TODAY

IF  YOU  FACE  ANY  PROBLEM  TO  GET  THIS  OFFER  PLEASE CONTACT                                                                   US FOR

SUPPORT ,  CLICK  SMS  BAR  ABOVE  THEN  TALK  TO  US.