The is showing that price action has deviated quite significantly from the 50 indicating that AUD/JPY is very over sold and a potential pull back to this moving average could occur over the next week. Price action has tested a key at 84.500 and rejecting slightly forming a candle with large wicks at either end indicating some indecision in the market. This 84.500 level has proven to hold as in the passed suggesting that price will hold at level and potentially reverse. The next key level to look for on the is the 85.800 level which has shown to be a significant level of in the passed. Once broken price action could look to test the 87.300 level. The daily graph is just below the 30 level indicating that price may be oversold.
Similar to the , the 4 hourly chart is showing that price action is severally deviated from its 50 suggesting that price action could experience pull back. A large has formed on the for the major part of this bear trend, indicating that the move was underpricing this asset.
The hourly chart is showing that there is a large forming and converging towards the key level of at 84.500. Once price has broken from this formation, there could be a retest of the upper of the pattern followed by a continuation to the upside. Price action will need to make a clear break through the 85.300 level for price to move any higher, a break of this level will be a management point for this trade.