11/12/2017

AUD/JPY GBP/AUD

AUD/JPY 1H Chart: Short-term channel could prevail

The bearish sentiment has prevailed AUD/JPY since mid-September. This has sent

the pair for a decline in a descending channel. The Aussie bounced off the upper

boundary of this pattern on December 5 prior to initiating a new wave down. It

seems that a short-term channel has formed; however, the rate should still provide

another confirmation of its upper boundary by edging lower. Technical indicators

suggest that it could be the most likely option in this session. In order to fulfill this

assumption, the Aussie still needs to breach a significant support area set by the

200-, 100– and 55-hour SMAs circa 86.30. In general, a possible downside target during the first part of this week could be the 84.10 territory. In

case the rate continues to fall even further, it might aim for the lower boundary of the senior channel circa 82.50.

Indicator 4H 1D 1W MACD (12; 26; 9) Buy Sell Sell

RSI (14) Neutral Neutral Neutral

Stochastic (5; 3) Buy Sell Sell

Alligator (13; 8; 5) Neutral Sell Neutral

SAR (0.02; 0.2) Buy Buy Sell

Aggregate ⇗ ⇘ ⇘

GBP/AUD 1H Chart: Breakout from long-term triangle

GBP/AUD was trading in a symmetrical triangle since mid-2016. This long-term

pattern was breached on November 28 when the bullish sentiment that had driven

the pair for the last four months provided enough strength to edge even higher.

The Pound has since made a retracement from the given triangle and was trading

near the psychological 1.78 mark early on Monday. It is likely that the pair is

delayed near the combined resistance of the 100– and 200-hour SMAs and the

weekly PP circa 1.7770. This could result in a minor period of consolidation near

this area. It is expected that the Sterling depreciates against the Australian Dollar

during the second half of this week in line with the prevailing channel up. On the other hand, the upside target for this week could be the monthly

R1 at 1.82.

Indicator 4H 1D 1W MACD (12; 26; 9) Buy Buy Buy

RSI (14) Neutral Neutral Neutral

Stochastic (5; 3) Sell Sell Sell

Alligator (13; 8; 5) Buy Buy Buy

SAR (0.02; 0.2) Sell Buy Buy

Aggregate ⇒ ⇒ ⇒

Disclaimer

Everything in this article, including opinions and figures, is provided for informational purposes only and may not be interpreted as financial advice or solicitation of products. Dukascopy group assume no responsibility for the completeness or the accuracy of any data contained in this article. Financial figures indicated in this article have not been verified by the Dukascopy group. Views, opinions and analyses are those of the author of the article, and are not endorsed by the Dukascopy group. Dukascopy group waive any and all warranties, express or implied, regarding, but without limitation to, warranties of the merchantability or the fitness for a particular purpose, with respect to all

information in this article. Dukascopy group shall under no circumstances be responsible for any direct, indirect, consequential, contingent or any other damages sustained in connection with the use of

this article.

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