AUD/JPY Analysis - July 23, 2014
Current Exchange Rate: 95.74 at the time of analysis update.
The strong jump which broke over the expected resistance of 95.70 suggests that we should see further gains for a retest of 95.99. However the strong resistance faced there earlier and the fact that AUD/JPY is once again in the psychological ranges of 95.00, we stay neutral as long as the price-action is below 95.99. In case that resistance fails then the pair may target a retest of 96.50.
This is not for today but on the downside any break below 94.94 will turn the focus back for a decline to retest 94.39.
AUD/JPY Daily and 4-Hourly Charts
AUD/JPY 4-Hourly Chart
AUD/JPY Daily Chart
Further Resources and notes
Note 1: Please also take a look AUDJPY forecast for mid-term trading approach updated on the weekends for AUDJPY.
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There can also be some news or some indications from technical indicators or chart patterns which may suggest some major moves. Please check and share such observations at AUD/JPY chart alerts in the blog section and also keep an eye on AUD/JPY market sentiments.
(For Carry Trade)
AUD/JPY Resistance and Support with Daily Pivot Points (GMT 00:00)
Last Updated (Thursday, 24 July 2014 00:58) GMT
|Standard Pivot Point for AUD/JPY||Fibonacci Pivot Point for AUD/JPY||Woodie Pivot Point for AUD/JPY||Camarilla Pivot Point for AUD/JPY|
AUD/JPY's Correlation with other currency majors
|AUD/JPY Correlation Values:|
|AUD/JPY Correlation Graph:|
Notes and caution about Forex analysis for AUD/JPY
The daily AUD/JPY analysis is not just based on technical indicators but also takes into account the overall price action and other aspects which can affect the Forex market in general and AUD/JPY price action specifically. Please also note that many times the price mentioned at the time of analysis update maybe different than the entry level suggested. These positions would mean limit orders for buying or short-selling. Hence please do not treat this analysis just as trading signals for AUD/JPY.
However, please note that the analysis reflects our views about the currency market based various factors. Forex trading is a speculative market and the price may always have unpredictable moves. We cannot take the responsibility for any losses dues to and positions taken based on our views.
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