AUD/JPY analysis for April 26, 2021

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Looking at the chart on the four-hour time frame, we see that the AUD/JPY pair is moving sideways, consolidating between 83.00-84.50, and in the middle of this channel are our moving averages. We are currently above those moving averages. We can expect the AUD/JPY  pair to climb to the upper zone again, and then if consolidation is appropriate and continue up above that zone. For the bearish option, we can only watch in the upper zone around 84.50. Looking at the MACD indicator, we have a clear bullish signal and based on it. We can also expect the growth of the AUD/JPY currency pair to continue.

AUD/JPY analysis for April 26, 2021

On the daily time frame, we see that the AUD/JPY pair is moving in lateral consolidation around the running averages of the MA20 and EMA20, and more recently, the MA50 as stronger support on the chart. Now again, we have a chance to get out of this consolidation and continue up above 85.00 on the chart. The Bullish option is currently more dominant the moment and based on that, we are more inclined towards the bullish trend as we can see that the AUD/JPY pair found support at 83.00, while our resistance is at 84.50. Looking at the MACD indicator, we see that we are in bearish consolidation but that the bearish picture is slowly fading. There is a possibility that we will again cross the line of a larger bullish trend.

AUD/JPY analysis for April 26, 2021

On the weekly time frame, we are in a big bullish trend, which has been going on for a year since March last year. We can also form a channel based on the previous highs and lows, and based on that we can track the movement of the AUD/JPY pair. The pullback is a normal occurrence, and we are now in a smaller pullback, but the bullish trend seems to be stronger and pulls the AUD/JPY pair out, directing it towards higher levels. Looking at the MACD indicator we see that the blue MACD line is slightly below the signal line, but the movement of both lines is lateral and the indicator is neutral.

AUD/JPY analysis for April 26, 2021

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