Written By : ForexAbode.com || Wednesday, 10 December 2014 04:52 GMT

AUD/JPY Analysis - December 10, 2014

Current Exchange Rate: 99.33 at the time of analysis update.

Intraday outlook: Neutralh outlook for AUD/JPY

We expect resistance at or below 99.93 which was the low of the recent sideways moves during November 25th to December 7th. This support level should now turn into resistance. The psychological resistance of 100.00 should also help this. The recent support represented the support of 38.2% retracement level of the gains from 91.76 to 102.85. The weak economic data from China should go against the commodity currency i.e. AUD because of huge export dependence. This keeps us bearish for AUD for the near-term. With the mentioned resistance in place, we would expect further decline to retest 98.56 first and then towards 98.10. On the downside the immediate critical support level would be 98.06. An break of that may take AUD/JPY towards 97.30/97.40 support range.

AUD/JPY Daily and Hourly Charts

AUD/JPY 4-Hourly Chart     

AUD/JPY analysis - hourly chart - December 10, 2014

AUD/JPY Daily Chart     

AUD/JPY analysis - daily chart - December 10, 2014

Support at 38.2% retracement level

AUDJPY finding support at 38.2% retracement level

Further Resources and notes

Note 1: Please also take a look AUDJPY forecast for mid-term trading approach updated on the weekends for AUDJPY.

Note 2: Please subscribe to the analysis newsletter so that we can send email alerts as soon as we update the the same.

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.

 
AUD/JPY Interest rate Comparison
(For Carry Trade)
Australian dollar (AUD) interest rate
2.50%
Japanese yen (JPY) interest rate
0.10%
AUD/JPY interest Rate Comparison
2.40%

AUD/JPY Resistance and Support with Daily Pivot Points (GMT 00:00)

Last Updated (Tuesday, 21 October 2014 02:33) 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
R3 94.81 R3 94.51     R3 94.01
R2 94.51 R2 94.27 R2 94.5 R2 93.96
R1 94.18 R1 94.12 R1 94.16 R1 93.9
Pivot 93.88 Pivot 93.88 Pivot 93.87 Pivot 93.88
S1 93.55 S1 93.64 S1 93.53 S1 93.78
S2 93.25 S2 93.49 S2 93.24 S2 93.72
S3 92.92 S3 93.25     S3 93.67
Open 93.82Open 93.82Open 93.82Open 93.82
High 94.22 High 94.22 High 94.22 High 94.22
Low 93.59 Low 93.59 Low 93.59 Low 93.59
Close 93.84 Close 93.84 Close 93.84 Close 93.84

AUD/JPY's Correlation with other currency majors

AUD/JPY Correlation Values:
 
AUD/JPY
P
e
r
i
o
d
A
U
D
/
J
P
Y
AUD
/USD
EUR
/CHF
EUR
/GBP
EUR
/JPY
GBP
/USD
NZD
/USD
USD
/CAD
USD
/CHF
USD
/JPY
1
W
e
e
k
1 -0.03 0.95 0.01 0.92 0.43 -0.66 -0.02 0.2 0.96
1
M
o
n
t
h
1 0.75 0.95 0.49 0.42 -0.73 -0.89 0.44 0.66 0.73
1
Y
e
a
r
1 0.68 -0.48 -0.68 0.69 0.75 0.83 0.31 -0.69 0.59

AUD/JPY Correlation Graph:
 
-0.03
   
0.68
   
 
0.95
   
-0.48
   
 
0.01
   
-0.68
   
 
0.92
   
0.69
   
 
0.43
   
0.75
   
 
-0.66
   
0.83
   
 
-0.02
   
0.31
   
 
0.2
   
-0.69
   
 
0.96
   
0.59
   
   
0.03
   
0.68
 
   
0.95
   
0.48
 
   
0.01
   
0.68
 
   
0.92
   
0.69
 
   
0.43
   
0.75
 
   
0.66
   
0.83
 
   
0.02
   
0.31
 
   
0.2
   
0.69
 
   
0.96
   
0.59

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.

Please check the Current AUD/JPY Exchange Rate.

Check any Real-Time AUD/JPY Trades in Forum.

Forex Trading Alerts subscription


Name:
Email:
Confirm Email:
1+7

We will send email alerts as soon as the Forex analysis is updated.
Request you to check the Junk (spam mail) folder immediately in case Google group mail is not received in Inbox.

Enter Forexabode Blog

Enter Forex Abode Community

Forex Rates