AUDJPY Will Bounce off Key Zones Before Bearish Movement Continues

Updated:

AUDJPY Market Analysis – August 30

AUDJPY will bounce off some key levels in a bid to keep moving downwards. For some time now, price has been on a descent. Price has been sliding downwards and bypassing the key levels. After a retest activity at the 81.600 key level, AUDJPY continued moving downward. AUDJPY dived below the trend-line and a major demand level at 80.200 before slipping past another significant key region at 79.000. Bullish pressure, which is causing a change in the market, has risen considerably. AUDJPY is creating a new lower high before price continues its slump.


AUDJPY Important Levels

Supply Levels: 81.600, 80.200
Demand Levels: 79.000, 77.900

AUDJPY will

AUDJPY Long Term Trend: Bearish

AUDJPY continues to fall due to violating the 80.200 demand level. Price should make a steady retracement before bearing on its bearish agenda. This retracement will be caused by upward pressure, and bulls will endeavor to rise somewhat before AUDJPY continues diving.

AUDJPY keeps climbing up, with the price aiming to break over 80.200 before retreating. Price initially offers a potential buy on the daily time frame when it changes direction at the 77.900 demand zone. However, this was caused by AUDJPY breaking out of the Bollinger Band. Price is now poised to overcome the middle band and rise to retest the upper band before price continues dipping.

AUDJPY will AUDJPY Short Term Trends: Bearish

AUDJPY is predicted to climb beyond 80.200, retesting significant zones in the 4-hour time frame before bearing on its bearish movement. Before retracement, the market may break over the trend line and react at 81.600. The Bollinger Band indicator displays market responses at the upper band. This suggests a bearish reversal when the market pulls back to that zone. The MACD (Moving Average Convergence and Divergence) is displaying bullish histogram bars suggesting upward movement and crosses showing losses in bullish impetus. This, however, plainly indicates that sellers will soon dominate the market.

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AUDJPY Is Likely to Make a Progressive Pullback Before It Continues Its Bearish Trend

Updated:

AUDJPY Price Analysis – August 23

AUDJPY is likely to make a progressive pullback before resuming its current bearish trend. After breaking through the trendline and then a key support zone at 80.200, AUDJPY broke another significant key area at 79.000. There is a change in the market as bulls start to apply pressure, which has noticeably increased. The market is likely to make a retracement to 79.00 and then make a rebound or break above it.


AUDJPY Significant Zone

Resistance levels: 77.900, 79.000
Support level: 80.200, 81.600

 

AUDJPY is likely

AUDJPY Long Term Trend: Bearish

Following a massive breakout at the 80.2 support zone, AUDJPY kept falling. It is now likely to make a progressive pullback before continuing in its bearish trend. This pullback will be due to the buyers’ pressure, and the price will then try to go up a little before the progression of the bearish trend. This pullback by AUDJPY will then create a lower high.

At this point, the market is probably going to make a retest at the old support level of 77.90. It may further pull back from the support zone of 80.200. The Stochastic Oscillator clearly shows a golden cross near the 0.00 level. Therefore, this means that there is a change in the direction of the price movement. The price will tend to react up before the bearish trend continues.

AUDJPY is likely

AUDJPY Short Term Trend: Bullish

On the 4-hour chart, there appears to be a gradual pullback as the market begins to reverse its direction. The parabolic SAR (Stop and Reverse) indicates the emergence of a new direction. It displays three dots beneath the lower low. This confirms a progressive pullback. The stochastic Oscillator also shows a significant upward push. The market appears to be making a gradual return to the previous significant zone of 79.000. It could either break it upwards or retest it and continue in the bearish trend direction.

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Successful AUDJPY Break and Retest Strategy Would Push Price Higher

Updated:

AUDJPY Price Analysis – August 16

A successful AUDJPY break and retest strategy would move the price to higher levels. The market had also executed this strategy when it was falling off the 82.900 price level. Price had been knocking down on this level for 95 trading days before the market fell, eventually on the 7th of July 2021. AUDJPY descended into a downward channel after executing a successful break and retest strategy below the 82.900 critical level.


AUDJPY Key Levels

Resistance Levels: 82.900, 81.500, 80.760
Support Levels: 79.800, 79.250, 78.200

 successful AUDJPY break and retest strategyAUDJPY Long Term Trend: Bullish

The market began descending steadily down a channel since its successful break and retest strategy. This downtrend continued till the beginning of August, when things began to take a different turn. Bulls cunningly phased the market out of the downtrend channel using the 80.760 support level on the 5th of August. Bears halted AUDJPY’s premature climb immediately at 81.500. Hence the price has now pulled back to carry out another break and retest strategy to surge upwards.

The retracement began on the 12th of August, and price has been longing to retest the channel’s upper border. A powerful confluence of the upper border and the 79.800 significant support await the market. The Elders Force Index has taken a slight plunge below the zero mark to reflect current market retracement. Not plunging very intensely at this point shows that a significant volume of buyers is still upholding the market.

 successful AUDJPY break and retest strategyAUDJPY Short Term Trend: Bearish

Falling from the 80.760 key level, there has been much intensity shown by a line-up of 6 bearish candles on the 4-hour chart. The MACD (Moving Average Convergence Divergence) shows strong and increasing bearish bars to reflect that intensity. The market is now driving towards the confluence zone. If the price drops with its current bearish intensity on the confluence, the market will proportionally spring up very high.

Bears could yet exploit the current bearish intensity of the market to break through a weakness and plunge back to the descending channel. But aside from this, price should retest the confluence and spring higher. The key level is in sight is 82.900.

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AUD Drops Sharply As Yen Surges, on the Back of Dismal Chinese Data

Updated:

With Australia’s lockdowns being prolonged, the AUD remains weak. As the number of cases continues to climb, Sydney, Melbourne, Canberra, and Darwin remain under rigorous limitations. Australia is vulnerable to the highly contagious Delta form since just 26% of people over the age of 16 have been properly vaccinated. Today was the bloodiest day of the COVID-19 outbreak in Sydney, Australia’s largest city. To restrict people’s movement, troops and police built up barriers. Australia’s limitations are among the most stringent in the world, with extremely harsh penalties for breaking the lockdown regulations.

The AUD is also being impacted by the slowing Chinese economy, according to data. Annualized retail sales in July in China were 8.5 percent, versus 11.5 percent projected, and annualized industrial production was 6.4 percent, versus 7.8 percent expected.

The Reserve Bank of Australia (RBA) is expected to become more dovish (minutes from its last meeting will be released on Tuesday). The Reserve Bank of New Zealand (RBNZ), on the other hand, remains one of the world’s most hawkish central banks and is expected to raise interest rates for the first time since 2014 on Wednesday.

The yen has risen sharply as a result of several risk-off factors, all of which are tied to the pandemic. As the coronavirus resurfaced, a slew of weaker-than-expected data from China signaled that the recovery is losing steam. Infections have increased in Japan, and Australia has imposed more restrictions. Commodity currencies are falling in general, with the Australian dollar being the hardest hit. The major European currencies are currently mixed but remain robust against the US dollar for the time being.

AUD Depreciates Sharply Against the Yen

A couple of risk-off factors have caused the AUDJPY also to fall strongly today. Heavier limits on the Delta variant’s surge are causing concern in Australia. Infections have reached new highs in New South Wales, while Melbourne has reverted to a night curfew. The Australian Capital Territory’s lockdown has been extended for another two weeks. The Northern Territory likewise goes under a three-day lockdown.

The AUD/USD pair got off to a shaky start in the new week, dropping to a daily low of 0.7331 before consolidating. As of this writing, the pair was trading at 0.7340, down 0.4 percent on the day. The US Dollar Index, on the other hand, which fell dramatically on Friday amid falling US Treasury note yields, is trading in a relatively tight range above 92.50 on Monday, allowing AUD valuation to dictate AUD/USD swings.

Retail sales in China increased by 8.5 percent year over year in July, according to figures released earlier in the day. By a large margin, this data fell short of the market consensus of an 11.5 percent increase. Furthermore, Industrial Production increased by 6.4 percent in the same period, compared to experts’ expectations of 7.8%. The China-proxy AUD was hit hard by these poor numbers at the start of the week.

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AUD/JPY Imminent Upside Breakout!

Updated:

AUD/JPY rallied in yesterday’s trading session signaling that the downside is limited. It stands below the immediate downtrend line, so an upside breakout may signal continuation. It has moved sideways in the short term, but this sideways it cannot last indefinitely.

JP225 Technical Analysis! 

JP225 (Nikkei) has registered a valid breakout through the descending pitchfork’s upper median line (UML) and now is almost to take out the weekly R1 (28,112.8) resistance. Further growth signals that the Japanese Yen could depreciate versus its rivals.

AUD/JPY H4 Chart Technical Analysis!

AUD/JPY stands right below the downtrend line. Its failure to stabilize under the weekly (80.861) signaled that the buyers could take it higher. It has failed to come back down towards the lower median line (lml) signaling strong buyers.

Making a valid breakout above the downtrend line and registering a new higher high may signal an upwards movement ahead. AUD/JPY is trapped between the median line (ML) and the lower median line (LML). Jumping and stabilizing above the median line (ML) could really signal further growth.

Conclusion!

A valid breakout through the triangle’s resistance may bring further upwards movement in the short term.

 

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The 80.760 Support Lifts AUDJPY Above the Descending Channel in Bullish Tactics

Updated:

AUDJPY Price Analysis – August 9

The 80.760 support has been used by buyers to lift AUDJPY out of depression. The market has been unsuccessful in trying to push out of 85.000 for several months since March. Bears have exploited this weakness to plummet the market below 82.900. AUDJPY has thus far been sliding down a descending channel. 82.900 support also tried to keep price afloat, but ultimately bowed to pressure from bears.


AUDJPY Significant Levels

Resistance Levels: 85.000, 82.900, 81.500
Support Levels: 80.760, 79.800, 78.200

The 80.760 support AUDJPY Long Term Trend: Bearish

The middle line of the descending channel is responsible for the cranking movement of the price as it slides downward. The 80.760 support already showed its tendencies to rebel against the downtrend from the 27th to the 29th of July 2021, but the bears bypassed it. By the time price retraced above it, it took advantage of being at the edge of the upper border to shift the market from the channel pathway.

A reaction from the sellers is expected at this junction and already the daily candles have fallen back to the 80.760 support. It remains to be seen if the support can be tenacious enough to at least force the market into a ranging movement. The RSI (Relative Strength Index) shows that AUDJPY lies in the selling zone of the chart and the action of the bulls is just a bump in the road on the way downwards. Bearish pressure therefore remains.

The 80.760 support AUDJPY Short Term Trend: Ranging

Bulls will capitalize on the shift of the price out of the descending channel to force the market into consolidation before they try to shift the market in their direction. If the 80.760 price support becomes too weak to withstand the bearish pressure, buyers will fall back to stronger weekly support at 79.800 to push their agenda.

If the market holds above 80.760, the price will likely begin consolidation with 82.900 resistance. But if bears force the market down, 79.800 will be stronger to carry out this agenda.

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AUDJPY Downslides as 82.900 Fails to Hold the Market Up

Updated:

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!

Updated:

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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AUD/JPY continues downtrend, targets level 77.42

Updated:

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

Updated:

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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