Technical Analysis – AUDJPY capped by recent highs, uptrend pauses

Posted on August 20, 2020 at 11:14 am GMT

AUDJPY has been trading in a narrow sideways range for a month now, between 76.80 and 74.70. A break in either direction is needed to reveal the pair’s short-term tendency, though in the bigger picture, only a decisive move below 72.70 would call into question the five-month uptrend.   Short-term oscillators detect fading upside momentum and imply that the pair could test the lower bound of its recent range soon. The RSI is pointing down and looks ready to cross [..]

Technical Analysis – AUDJPY fights long-term resistance area; bearish divergence detected

Posted on August 13, 2020 at 7:32 am GMT

AUDJPY stepped on the supportive ascending trendline earlier this week and shifted north again to fight the heavy ceiling around 76.70, which has been active since June 2016. While the RSI and the Stochastics continue to consolidate within the bullish area, they have been printing lower highs over the past two months in contrast to the price which has been holding around the upper surface of its range. The pattern reminds a bearish divergence structure and could be a signal [..]


Australian jobs data: Statistical shenanigans – Forex News Preview

Posted on August 12, 2020 at 2:23 pm GMT

Australia’s employment data for July will hit the markets at 01:30 GMT Thursday. Forecasts point to a spike in the unemployment rate, though that’s likely owed to more people coming back to the labor market, not a setback in the economy. As for the aussie, its broader direction will depend mostly on global risk sentiment and vaccine news. Yet, given the RBA’s yield curve control strategy, encouraging vaccine headlines might not boost the aussie across the board – only against [..]


Technical Analysis – AUDJPY holds onto bullish bias but risks further consolidation

Posted on July 15, 2020 at 2:55 pm GMT

AUDJPY hit a one-month high of 75.26 on Tuesday as it continued to increase positive momentum following last week’s bounce off the 20-day moving average (MA). The RSI is currently trending higher above 50 and hasn’t yet reached overbought levels, indicating there is scope for additional gains in the coming days. However, the MACD remains flat despite the recent gains, suggesting it’s too soon to predict an end to the neutral picture in the short to medium term. If the [..]


Technical Analysis – AUDJPY consolidates, but picture still positive

Posted on June 30, 2020 at 11:18 am GMT

AUDJPY has been confined within a narrow range in recent weeks, between 74.40 and 72.70. Yet, the bigger picture is still bullish as the pair remains above a three-month upside support line and the price structure still consists of higher peaks and higher troughs. What’s more, the 50-day simple moving average (SMA) looks ready to cross above the 200-day one, forming a so-called ‘golden cross’, which would be another positive sign. Short-term oscillators don’t tell us much about the next [..]


Technical Analysis – AUDJPY pulls back, but uptrend still in play

Posted on June 23, 2020 at 12:47 pm GMT

AUDJPY retreated recently after touching a one-year high near 76.80, but the pair found fresh buy orders at 72.70 and rebounded again. The structure of higher highs and higher lows on the daily chart remains intact, and the price is still trading above a three-month upside support line. If the 50-day simple moving average (SMA) crosses above the 200-day one soon, completing a so-called ‘golden cross’, that would be another bullish signal. Short-term oscillators like the RSI and the MACD [..]


Technical Analysis – AUDJPY retreats from one-year high; positive picture reloading

Posted on June 15, 2020 at 2:23 pm GMT

AUDJPY’s pullback from the fresh peak of 76.77 appears to have received some support from the 72.78 level, that being the 23.6% Fibonacci retracement of the up leg 59.85 – 76.77. The Ichimoku lines sponsor an improving picture as does the 50-day simple moving average (SMA) with its positive overlap of the 100-day SMA. However, looking at the short-term oscillators, they reflect a pause in positive directional momentum. The MACD and the RSI have weakened in their positive regions, with [..]

Technical Analysis – AUDJPY rally stalls near 200-day SMA; trendline in focus

Posted on May 29, 2020 at 7:44 am GMT

AUDJPY maintains a clear uptrend in the short-term picture, well supported by an ascending trendline, but now must face the 0.7150 level and the 200-day simple moving average (SMA), which appeared a strong resistance this week, to continue the bullish retracement of the virus-led sell-off. The RSI and the MACD are currently reflecting a weakening positive bias as the indicators seem to be losing steam. Hence, should the price further decelerate, the 70.20 level, which is the 61.8% Fibonacci of the down [..]


Technical Analysis – AUDJPY pulls back, but still in positive mode

Posted on May 22, 2020 at 12:00 pm GMT

AUDJPY inched lower in the last couple of sessions, after touching a 6-week high at 71.00, but the series of higher highs and higher lows is still intact on the daily chart, keeping the broader outlook positive. Endorsing the improved sentiment, the 50-day simple moving average (SMA) has turned higher, while the pair is also trading above an upside support line. The latest pullback is also reflected in the RSI, which has turned lower but remains above its 50 line, [..]


Technical Analysis – AUDJPY turns neutral as recovery continues

Posted on April 29, 2020 at 10:18 am GMT

AUDJPY continues to heal its wounds, posting higher highs and higher lows on the daily chart ever since it crashed to the 11-year low of 59.85 in mid-March. Attesting to the improving sentiment, the pair has crossed back above its 50-day simple moving average (SMA). Put together, these suggest the outlook has improved to neutral, from negative previously. Short-term oscillators are mixed, not painting a clear picture about the immediate term. The RSI is in positive territory but has flattened [..]

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