AUDJPY Downslides as 82.900 Fails to Hold the Market Up

AUDJPY Downslides as 82.900 Fails to Hold the Market Up

AUDJPY Price Analysis – August 1

AUDJPY downslides after falling through the 82.900 major support. The market had endured a spell of consolidation at the beginning of the year between the 80.760 and the 79.800 key levels. Thereafter, bulls gained strength to travel out of the consolidation. Price ascended till it was rejected at 84.980. AUDJPY fell but recovered in time to find support at the 82.900 key level. From there, it kick-started another ranging movement with the 84.980 resistance.


Key Levels

Resistance Levels: 80.760, 82.900, 84.980
Support Levels: 78.200, 79.250, 79.800

AUDJPY downslides AUDJPY Long Term Trend: Bearish

The 82.900 was tenacious to keep AUDJPY from sinking, despite being breached twice. The same can be said for the resistance at 84.980. Through the consolidation period, the 84.060 key level acted as a midlevel point to support or resist price within the consolidation. It first tried to push price up, but when 84.980 wouldn’t bulge, it then pressured the market downward. It didn’t take long for the 82.900 support to give way and from there AUDJPY downslides.

On its descent, the market tried to spring back from 81.300, but 82.900 now acts as a resistance to it. Price eventually fell back to the level where it began the year at 79.800. Buyers once again reacted immediately to push price up, but the odds remained against them and price has been knocked down once again, below 80.760. The Parabolic SAR (Stop and Reverse) has placed its dots above the daily candles from the 8th of July till today. The market is predominantly bearish.

AUDJPY downslides AUDJPY Short Term Trend: Bearish

The four-hour chart shows the market cranking down a parallel channel. Currently, price is at the upper border of the channel and has been knocked down below the 80.760 resistance. The Parabolic SAR shows that the predominant direction of AUDJPY is downward. The Stochastic Oscillator also has its signal line brooding over the oversold line and is likely to drop deeper into an extreme selling position.

The 80.760 resistance will keep preventing price from going up and the market is expected to follow the descending channel down to the next support at 79.800.

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AUD/JPY Breakout Brings Continuation!

AUD/JPY Breakout Brings Continuation!

AUD/JPY decreased a little in the short term, but the upside pressure is strong. The support area holds, so an upside breakout is favored. In the short term, the pair dropped as the Yen was boosted by Nikkei’s sell-off.

AUD/JPY increases right now even if the Japanese Unemployment Rate, Prelim Industrial Production, and the Housing Starts have come in better than expected. Unfortunately, the Retail Sales increased only by 0.1% in June versus 0.3% expected and after 8,3% growth in May.

AUD/JPY H4 Technical Analysis!

AUD/JPY escaped from a Falling Wedge pattern signaling an upside movement. It has found temporary resistance at the ascending pitchfork’s median line (ml) and now it has declined a little.

It has found support below the weekly pivot point (80.956), right on the inside sliding line (sl). Technically, it’s trapped within a down channel, an upside breakout could validate further growth, a new leg higher.

Conclusion!

Stabilizing above the weekly pivot point (80.956) followed by a valid breakout through the downtrend line could validate a fresh swing higher.

 

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Olimpiu Tuns

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AUD/JPY continues downtrend, targets level 77.42

AUD/JPY continues downtrend, targets level 77.42

Key Resistance Levels: 78.00, 80.00, 82.00
Key Support Levels: 58.00, 60.00, 62.00

AUD/JPY Price Long-term Trend: Bearish
On July 19, AUD/JPY pair fell to $80 low and resumed upward. For the past week, the pair has been correcting upward. The selling pressure will resume if price breaks below level 80.00. The Fibonacci tool has indicated a further downward movement of the pair. Meanwhile, on June 21 downtrend; a retraced candle body tested the 38.2% Fibonacci retracement level. The retracement indicates that the pair will fall to level 2.618 Fibonacci extension or level 77.42.

AUD/JPY – Daily Chart

Daily Chart Indicators Reading:
The pair has fallen to level 40 of the Relative Strength Index period 14. It indicates that it is in the downtrend zone and below the centerline 50. The 21-day SMA and the 50-day SMA are sloping southward indicating the downward move.

AUD/JPY Medium-term Trend: Bearish
On the 4-hour chart, the currency pair is falling in a downtrend. Meanwhile, on July 26 downtrend; a retraced candle body tested the 38.2% Fibonacci retracement level. The retracement indicates that the currency pair will fall to level 2.618 Fibonacci extension or level 78.32.

AUD/JPY – 4 Hour Chart

4-hour Chart Indicators Reading
The pair is above the 75% range of the daily stochastic. It indicates that the pair is in a bullish momentum. The SMAs are sloping southward indicating the downtrend.

General Outlook for AUD/JPY
AUD/JPY pair is in a downward move. Presently, it is correcting upward for a possible upward move. According to the Fibonacci tool, the market will decline to level 2.618 Fibonacci extension or level 77.42.

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AUD/JPY Struggles to Break Previous Low at Level 80.14, Downtrend Is Likely

AUD/JPY Struggles to Break Previous Low at Level 80.14, Downtrend Is Likely

Key Resistance Levels: 78.00, 80.00, 82.00
Key Support Levels: 58.00, 60.00, 62.00

AUD/JPY Price Long-term Trend: Bearish
AUD/JPY currency pair is in a downward move as price reaches the low of level 80.17. The bearish momentum is likely to continue on the downside as the pair faces rejection after a retracement. Meanwhile, on June 21 downtrend; a retraced candle body tested the 38.2% Fibonacci retracement level. The retracement indicates that the pair will fall to level 2.618 Fibonacci extension or level 77.28. From the price action, the pair has fallen and reached the low of level 80.14.

AUD/JPY – Daily Chart

Daily Chart Indicators Reading:
The pair has fallen to level 25 of the Relative Strength Index period 14. It indicates that the pair is now in the oversold region of the market. It implies that the selling pressure is likely to run to an end. We will now be looking into the emergence of buyers in the oversold region of the market. The 21-day SMA and the 50-day SMA are sloping southward indicating the downward move.


AUD/JPY Medium-term Trend: Bearish
On the 4-hour chart, the currency pair is sloping southward. The 21-day SMA is acting as resistance to the pair. Meanwhile, on July 8 downtrend, a retraced candle body tested the 38.2% Fibonacci retracement level. The retracement indicates that the currency pair will fall to level 2.618 Fibonacci extension or level 78.09.

AUD/JPY – 4 Hour Chart

4-hour Chart Indicators Reading
The pair is below the 20% range of the daily stochastic. It indicates that the pair is in the oversold region. Buyers are likely to emerge in the oversold region. The SMAs are sloping southward indicating the downtrend.

General Outlook for AUD/JPY
AUD/JPY pair is in a downward move. According to the Fibonacci tool, the market will decline to level 2.618 Fibonacci extension . That is either level 77.28 or 78.09. The market has reached the oversold region. The currency pair is likely to fall at the end of the Fibonacci extension.



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AUD/JPY Reaches the Overbought Region, May Further Decline

AUD/JPY Reaches the Overbought Region, May Further Decline

Key Resistance Levels: 78.00, 80.00, 82.00
Key Support Levels: 58.00, 60.00, 62.00

AUD/JPY Price Long-term Trend: Bearish
AUD/JPY currency pair is in a downward move. The downtrend is likely to continue as price rises to the overbought region of the market. The market has earlier been rejected at level 84.00. Meanwhile, on June 21 downtrend; a retraced candle body tested the 38.2% Fibonacci retracement level. The retracement indicates that the pair will fall to level 2.618 Fibonacci extension or level 77.36.

AUD/JPY – Daily Chart

Daily Chart Indicators Reading:
The pair has fallen to level 43 of the Relative Strength Index period 14. It indicates that the pair is in the downtrend zone and below centerline 50. The 21-day SMA and the 50-day SMA are sloping horizontally indicating the sideways move.

AUD/JPY Medium-term Trend: Bullish
On the 4-hour chart, the currency pair is still falling. The pair is correcting upward to the previous highs. The price action is indicating an overbought condition of the market. Meanwhile, on June 30 uptrend, a retraced candle body tested the 38.2% Fibonacci retracement level. The retracement indicates that the currency pair will fall to level 2.618 Fibonacci extension or level 80.54.

AUD/JPY – 4 Hour Chart

4-hour Chart Indicators Reading
The market is above the 80% range of the daily stochastic. It indicates that the pair is in the overbought region. Sellers are likely to emerge in the overbought region. The SMAs are sloping southward indicating the downtrend.

General Outlook for AUD/JPY
AUD/JPY pair is still correcting upward as it reaches the overbought region of the market. The uptrend is likely to faced rejection at level 83.50. According to the Fibonacci tool, the market will decline to level 2.618 Fibonacci extension or level 80.54.



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AUD/JPY Pushes on the Upside, Targets Level 85.00 High

AUD/JPY Pushes on the Upside, Targets Level 85.00 High

Key Resistance Levels: 78.00, 80.00, 82.00
Key Support Levels: 58.00, 60.00, 62.00

AUD/JPY Price Long-term Trend: Bearish
AUD/JPY currency pair fell to level 82.40 after rejection from the level 85.00 overhead resistance. The market is resuming upward to retest the overhead resistance. Meanwhile, on June 25 uptrend; a retraced candle body tested the 38.2% Fibonacci retracement level. The retracement indicates that the pair will fall to level 2.618 Fibonacci extension or level 87.53.

AUD/JPY – Daily Chart

Daily Chart Indicators Reading:
The pair has fallen to level 45 of the Relative Strength Index period 14. It indicates that the pair is in the downtrend zone and below centerline 50. The 21-day SMA and the 50-day SMA are sloping horizontally indicating the sideways move.

AUD/JPY Medium-term Trend: Bullish
On the 4-hour chart, the currency pair has resumed its downward move. On June 25, the pair was resisted as the market declined to level 82.80. The pair has resumed a fresh uptrend but the market is approaching the overbought region. Meanwhile, on July 1 uptrend, a retraced candle body tested the 38.2% Fibonacci retracement level. The retracement indicates that the currency pair will fall to level 2.618 Fibonacci extension or level 85.03.

AUD/JPY – 4 Hour chart

4-hour Chart Indicators Reading
The market is above the 80% range of the daily stochastic. It indicates that the pair is in the overbought region. Sellers are likely to emerge in the overbought region. The SMAs are sloping southward indicating the downtrend.

General Outlook for AUD/JPY
AUD/JPY pair is making an upward move. The uptrend is likely to faced rejection at level 85,00. AUD/JPY pair is falling after facing rejection at level 84.16.


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AUD/JPY In a Downward Move, Faces Rejection Level 84.00

AUD/JPY In a Downward Move, Faces Rejection Level 84.00

Key Resistance Levels: 78.00, 80.00, 82.00
Key Support Levels: 58.00, 60.00, 62.00

AUD/JPY Price Long-term Trend: Bearish
AUD/JPY currency pair is in a downward move. The market was earlier correcting upward but the bulls could not break above the previous high. The selling pressure has resumed. On June 18 downtrend; a retraced candle body tested the 38.2% Fibonacci retracement level. The retracement indicates that the pair will fall to level 2.618 Fibonacci extension or level 77.31.

AUD/JPY – Daily Chart

Daily Chart Indicators Reading:
The pair has fallen to level 42 of the Relative Strength Index period 14. It indicates that the pair is in the downtrend zone and below centerline 50. The 21-day SMA and the 50-day SMA are sloping horizontally indicating the sideways move.

AUD/JPY Medium-term Trend: Bullish
On the 4-hour chart, the currency pair has resumed downward move. The pair was earlier in a sideways trend. On June 28 downtrend, a retraced candle body tested the 38.2% Fibonacci retracement level. The retracement indicates that the currency pair will fall to level 2.618 Fibonacci extension or level 83.34.

AUD/JPY – 4 Hour Chart

4-hour Chart Indicators Reading
The market is below the 20% range of the daily stochastic. It indicates that the pair is in a bearish momentum. Also, the pair has fallen to oversold region of the market. The implication is that selling pressure is reaching bearish exhaustion. The SMAs are sloping southward indicating the downtrend.

General Outlook for AUD/JPY
AUD/JPY pair is falling after facing rejection at level 84.16. According to the Fibonacci tool, The currency pair will fall to level 2.618 Fibonacci extension or level 77.31

 
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AUD/JPY Drops Sharply, Uptrend Likely

AUD/JPY Drops Sharply, Uptrend Likely

 Key Resistance Levels: 78.00, 80.00, 82.00
Key Support Levels: 58.00, 60.00, 62.00

AUD/JPY Price Long-term Trend: Ranging
AUD/JPY currency pair is in sideways trend below level 85.00. The market fluctuates below level 82.00 and level 85.00. The price action is characterized by small body candlesticks.These candlesticks are indicating that buyers and sellers are undecided about the direction of the market.

AUD/JPY – Daily Chart

Daily Chart Indicators Reading:
The pair has fallen to level 37 of the Relative Strength Index period 14. It indicates that the pair is in the downtrend zone and below centerline 50. The 21-day SMA and the 50-day SMA are sloping upward indicating an uptrend. The market is approaching the oversold region.

AUD/JPY Medium-term Trend: Bullish
On the 4-hour chart, the currency pair is making an upward move. AUD/JPY fell in a downward move. The pair was earlier in a sideways trend, the bears broke level 84.60 and resume downward on June 16,. The market declined to the low of level 82.40. On June uptrend, a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that .The currency pair will rise to level 1.618 Fibonacci extension or level 83.88.

AUD/JPY – 4 Hour Chart

4-hour Chart Indicators Reading
The market is above the 80% range of the daily stochastic. It indicates that the pair is in a bullish momentum. The SMAs are sloping southward indicating the previous downtrend.

General Outlook for AUD/JPY
AUD/JPY pair is a making an upward move after the downtrend. The market is in a downward correction. AUD/JPY pair is likely to reach the high of level 84.10 but will face resistance.

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AUD/JPY Is Stuck below Level 85.50, Uptrend Is Unlikely

AUD/JPY Is Stuck below Level 85.50, Uptrend Is Unlikely

Key Resistance Levels: 78.00, 80.00, 82.00
Key Support Levels: 58.00, 60.00, 62.00

AUD/JPY Price Long-term Trend: Ranging
AUD/JPY currency pair is in a sideways trend. The pair is currently fluctuating in a tight range between levels 84.00 and 85.50. The current range-bound move is characterized by small bodies of candlesticks called Doji Spinning tops. These candlesticks are indicating that buyers and sellers are unaware of the direction of the market.

AUD/JPY – Daily Chart

Daily Chart Indicators Reading:
The pair has fallen to level 55 of the Relative Strength Index period 14. It indicates that the pair is in the uptrend zone and above centerline 50. The 21-day SMA and the 50-day SMA are sloping upward indicating an uptrend.

AUD/JPY Medium-term Trend: Bullish
On the 4-hour chart, the currency pair is in a sideways move below level $85.50. The pair is now fluctuating between levels 84.40 and 85.00. The currency pair has been fluctuating between levels $84 and $85.50. The price is fluctuating below and above the moving averages. The pair will rise when price is above the moving averages.

AUD/JPY – 4 Hour Chart

4-hour Chart Indicators Reading
The market is above the 75% range of the daily stochastic. It indicates that the pair is in a bullish momentum. The SMAs are sloping horizontally indicating the sideways trend.

General Outlook for AUD/JPY
AUD/JPY pair is in a sideways trend. The pair is rising toward level 85.50. A break above the resistance level will mean the resumption of an uptrend. If the upward move is resisted, it indicates that the pair will continue to be range-bound for a few more days.

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AUD/JPY Is Range-Bound below Level 85.50 Resistance

AUD/JPY Is Range-Bound below Level 85.50 Resistance

Key Resistance Levels: 78.00, 80.00, 82.00
Key Support Levels: 58.00, 60.00, 62.00

AUD/JPY Price Long-term Trend: Ranging
AUD/JPY currency pair was earlier in an uptrend. The uptrend was terminated in February as the pair resumed a sideways move below the level 85.50. Since February, the currency pair has been in a sideways trend below the resistance at level 85.50. In the meantime, the currency pair is fluctuating between levels 84.00 and 84.50.

AUD/JPY – Daily Chart

Daily Chart Indicators Reading:
The pair has fallen to level 52 of the Relative Strength Index period 14. It indicates that the pair is in the uptrend zone and above centerline 50. The 21-day SMA and the 50-day SMA are sloping upward indicating an uptrend.

AUD/JPY Medium-term Trend: Bullish
On the 4-hour chart, the currency pair is in a sideways move below level $85.50. The market has been fluctuating between levels $84 and $85.50. The price is fluctuating below and above the moving averages. The pair will rise when price is above the moving averages.

AUD/JPY -4 Hour Chart

4-hour Chart Indicators Reading
The market is below the 80% range of the daily stochastic. It indicates that the pair is in a bearish momentum. The SMAs are sloping horizontally indicating the sideways trend.

General Outlook for AUD/JPY
AUD/JPY pair is in a sideways trend. Since February, the market has been fluctuating below the $85.50 resistance level. Presently, the currency pair is consolidating above level 84.00. The currency pair is expected to rise and retest
level 85.50.

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Author : Azeez Mustapha

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Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.