Even though on the 4-hour chart the AUD/JPY WMA 30 Shift 2 cross currency pair has a flat slope, the price movement is still above the WMA 30 Shift 2 and coupled with confirmation that the price movement has succeeded in breaking above the Failing Wedge pattern, the AUD/JPY in the nearest time has the potential to strengthen up to level 98.91 and if this level is successfully broken above then the next level that will be aimed at is 99.32 and if the momentum and volatility are supportive enough then it is not impossible that level 100.10 will be the next target provided that it is on its way to the target levels As previously described, there will be no significant correction of weakening, especially if the 98.12 level is broken below, because if this level is exceeded then all the strengthening scenarios previously described will become invalid and automatically cancel itself.
(Disclaimer)
