AUD/JPY Analysis - December 10, 2014
Current Exchange Rate: 99.33 at the time of analysis update.
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 Daily Chart
Support at 38.2% retracement level
Further Resources and notes
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(For Carry Trade)
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|
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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