AUDJPY Weekly Forex Forecast 7th October to 13th October by yshashmi37 on TradingView.com

Midterm forecast:

While the price is above the support 78.65, beginning of uptrend is expected.
We make sure when the resistance at 83.90 breaks.
If the support at 78.65 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:

There is a divergence in RSI and price between the trough at 80.495 on 2018-03-23 and the trough at 78.68 on 2018-09-07, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
The RSI support #1 at 50 is broken, so the probability of beginning of uptrend is decreased.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index ( RSI ) is 40.

Share This