Even though on the 4-hour chart the AUD/JPY cross currency pair is still dominated by buyers, this is confirmed by the AUD/JPY price movement which is still moving above the EMA 20 which is also above the EMA 50 and the price movement is moving in a channel that is going upwards. However, with the appearance of deviations between the AUD/JPY price movement which forms a Higher-High while the Awesome Oscillator actually forms a Higher-Low, in the near future AUD/JPY has the potential to be corrected to weaken down to the level of 107.98, but as long as the weakening correction is not deeper and does not broken below the 107.50 level, AUD/JPY still has the potential to continue its strengthening up to the 109.00 level and if the momentum and volatility support it, the 109.25 level will be the next target to aim for.
(Discclaimer)
