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AUDJPY Technical Analysis on the 4 Hour Timeframe on 4th April 2018

AUDJPY TECHNICAL ANALYSIS

Lets look at the AUDJPY on the 4 hour time frame.

I have marked up the chart and as you can see the pair is in a downtrend channel.

Trend is down but we do not discount the possibility of this pair rebounding back up to the top slanting line of the channel.

Recent price action on the H4 chart shows higher highs and higher lows indicating that the bulls might have come in at the lows around the 80.0 to 80.50 level.

A break and close above the 82.500 level could see this pair scaling higher.

The Premium Signals group have received a trade signal to enter long on this pair with Take profit and Stop loss levels included in the signal and I have also included those levels in the chart above.

On the downside, a break below 81.00 will bring the bears back in again.

MACD histogram is flat and does not indicate any strong momentum yet. However, the bar is in green and we are above the zero line indicating the presence of bullish pressure.

CONCLUSION

We hope that you have benefited from this analysis.

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Have a great trading day ahead!

Ardy Ismail

Lead Currency Strategist / Team Forexachievers

By |2018-04-04T10:55:33+00:00April 4th, 2018|Categories: AUD Crosses, Daily Technical Strategy, YEN Crosses|Tags: |0 Comments

About the Author:

Ardy is a Professional Forex Trader specializing in the Forex market. He trades using both Technical and Fundamental Analysis and mentors other traders how to trade the Forex market using proprietary trading strategies which he has developed over the years. He started investing in equities in 1999 and trading Forex in 2008. He is the founder and lead currency strategist @ Forexachievers.com

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