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AUDJPY analysis for 03.08.2023

FXGlory | 2023-08-04 12:20

Abstract：On the 4-hour timeframe for AUDJPY, the RSI smoothly shifted below the centerline, signaling a potential bearish bias. Recent price action displayed a sharp bearish movement followed by an equally sharp bullish trend. Furthermore, the shorter moving average crossing below the longer moving average confirms a potential downtrend. Traders should exercise caution and closely monitor price movements for potential selling opportunities.

On the 4-hour timeframe for AUDJPY, the RSI smoothly shifted below the centerline, signaling a potential bearish bias. Recent price action displayed a sharp bearish movement followed by an equally sharp bullish trend. Furthermore, the shorter moving average crossing below the longer moving average confirms a potential downtrend. Traders should exercise caution and closely monitor price movements for potential selling opportunities.

• There is a resistance level at 95.840; followed by resistance at 95.676 and 95.310.

• There is a support level at 92.213. Below, there are 92.785 and 93.244.

Forex Analysis

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FXGlory

Company name：Glory Group Limited

Score

2.30

Website：https://fxglory.com

5-10 years | Suspicious Regulatory License | High potential risk |

Score

2.30

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