AUD/JPY Remains a Wild Card
Bollinger Bands® on AUD/JPY 1hr charts continue to reflect a volatile
environment, but one with no dominant trend on higher time frames.
ADX
tracks below 30 suggesting a sideways price action. Endorsing this
view, the 50-period simple moving average is locked in-between the 200
and the 800-period SMAs. From a larger perspective the AUD/JPY still
appears ranged sideways.
Traders may look for buy opportunities
using divergences between price and oscillators, targeting the 800-SMA. A
clear break of the 50-SMA below the 200 would switch the tone to
bearish.
