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 [..]

Daily Market Comment – Dollar slips as lockdown easing spurs risk-on; BoJ ramps up stimulus

Posted on April 27, 2020 at 8:43 am GMT

Dollar pressured as euro, pound and aussie charge higher on possible relaxation of lockdowns Stocks edge higher too but oil plunges again Bank of Japan pledges unlimited QE; focus moves to Fed and ECB Light at the end of the lockdown tunnel? It was a buoyant start to the week as signs that the draconian lockdowns that have paralysed major economies around the world are about to be loosened lifted risk appetite. The US dollar, which has been the safe [..]


Daily Market Comment – Virus drug hopes, Trump reopening plan fuel optimism; dollar holds firm

Posted on April 17, 2020 at 8:28 am GMT

Risk appetite returns on promising coronavirus drug and hope of shutdowns ending soon Stocks re-energized, gold dips but dollar resilient China reports first ever drop in GDP, but markets stay positive Trump wants to reopen economy, markets like it The mid-week souring in risk sentiment is seeing a turnaround as optimism for a way out of this virus crisis returns to the markets. After a series of data showing a collapse in key US economic indicators, ranging from retail sales [..]


Technical Analysis – AUDJPY attempts to turn neutral as bulls keep control

Posted on April 9, 2020 at 12:07 pm GMT

AUDJPY posted solid gains in recent sessions, continuing to recover after crashing in late February. The pair is now testing the 67.70 zone and crucially, a close above this region could turn the outlook back to neutral, from cautiously negative now. Something similar is being signaled by the 50-day simple moving average (SMA), which has started to flatten out. Short term oscillators suggest that the recovery might continue for now. The RSI has popped above its 50 line and is [..]


Technical Analysis – AUDJPY bounces off 11-year low, but recovery fizzles

Posted on March 27, 2020 at 1:06 pm GMT

AUDJPY fell aggressively in recent weeks to touch an 11-year low of 59.85, where the pair found fresh buy orders and subsequently rebounded. That said, the price structure on the daily chart still points to a broader downtrend, something reinforced by the ‘death cross’ of the 50-day simple moving average (SMA) below the 200-day one. Moreover, the inability of the bulls to pierce above 67.70 suggests that upside momentum is fading. Short term oscillators paint a mixed picture. Whereas the [..]

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