Daily Forex Update: AUD/JPY

By: Dima Chernovolov

AUD/JPY continues to rise – following the earlier breakout of the Pennant chart pattern which was previously identified by Autochartist on the daily AUD/JPY charts. Autochartist rates the Quality of this Pennant at the 8 bar level – which is the result of the sharp Initial Trend (10 bars), significant Uniformity (7 bars) and maximum Clarity (10 bars). High Initial Trend and Clarity reflect the higher visibility of this Pennant to the market participants. AUD/JPY is likely to rise to the Forecast price 78.72.


As can be seen from the PowerStats chart below, the upper boundary of the daily Expected Price Range calculated for this currency pair (78.794) exceeds the Forecast price calculated by Autochartist for the breakout of this Pennant (78.72) – which adds to the probability AUD/JPY will soon reach this target level.


To subscribe to the e-mail alerts feature is quick and easy. Log into the Autochartist platform, click on ‘Alerts & Messaging’, enter your email address, select the market you want covered, select your language, and the time you want to get your report, and you’re done! You will now receive a quick morning technical outlook of the markets.


For further information on this and other Autochartist products visit www.autochartist.com


You may also like

Leave A Comment

Please enter your name. Please enter an valid email address. Please enter message.