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January 6 Australian Dollar / Yen Forecast

Looking at the weekly timeframe chart, we see a strong bullish trend from March 2020, which may continue towards higher levels of the chart towards 82-83.00. The pair also surpassed last week’s MA200 moving average, so it now supports all moving averages. By setting Fibonacci, we can see that 61.8% broke up, unlike previous pullbacks where rejections were at the same level. You can now expect the pair to move to Fibonacci level 78.6% 83.80. A bullish scenario is very likely in the next period.

In the daily time frame, you can see that the pair is moving in a growing channel that supports all moving averages (MA20, MA50, MA100, and MA200). So far, some resistance can be seen in the form of the upper trend line around 81.00. The bullish scenario is so strong that we haven’t seen a trend reversal so far. With shorter time frames, less integration is always possible.

January 6 Australian dollar / yen, Australian dollar / yen forecast

In the 4-hour time frame, we can see that the pair has been rising since the beginning of November. Since then, it has tended to be strong bullish, with pairs above the moving averages and now supporting all moving averages. It makes it realistic to see the pair at 81.00. There you can expect possible integrations and smaller pullbacks for new turns to higher levels.

January 6 Australian dollar / yen, Australian dollar / yen forecast

From the news of these currencies, we can identify: Japan’s public services sector continued to shrink at a faster pace on Wednesday with a PMI service rating of 47.7, according to a recent survey by Jibun Bank. .. Australia’s services sector continued to expand rapidly in December, with the latest Markit Economics survey revealing a high PMI score of 57.0 for five months on Wednesday.

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January 6 Australian Dollar / Yen Forecast January 6 Australian Dollar / Yen Forecast

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