The weekly chart of AUD/JPY pair indicates a long-term upward trend, which dates back to the middle of last year. The period from the beginning of the current year is very interesting as the price respects the edges of the growth channel. Chart W1 also shows that growth swings were usually smooth and stable. Currently, there is a chance to initiate another upward movement at the bottom edge of the channel.

The daily chart shows that there is just an attempt to breach the level of the previous high, which would mean forming a system of high and lows characteristic for the upward trend. The matter is not yet decided, as demand has a problem with the dynamic breaking of this level. It seems that going beyond the maximum of December 14 can open the way to build a new trend.

The analysed instrument is offered by the broker XM, which provides spreads from 0.0 pips, more than 300 instruments and $ 30 start >>

Leave us a comment!

Error, group does not exist! Check your syntax! (ID: 3)