AUD/JPY Is Range-Bound below Level 85.50 Resistance

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: 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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AUD/JPY Is Stuck Below the Resistance at Level 85.20

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: Bullish
AUD/JPY currency pair has been trading below the resistance at level 85.20. Since February 24, the currency pair has been in a sideways move. All the price movements above the resistance pull back each time the market faces resistance. Today, the market is rising on the upside. Meanwhile, on April 29 uptrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that the market is likely to rise to level 1.618 Fibonacci extension or level 86.18.

AUD/JPY – Daily Chart

Daily Chart Indicators Reading:
The pair has fallen to level 56 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 horizontally.

AUD/JPY Medium-term Trend: Bullish
On the 4-hour chart, the currency pair is in a sideways move below level $85.20. On May 27, the pair rose and retested the resistance at level 85.20. This resulted in the decline of the currency pair. On May 28 uptrend a retraced candle body tested the 38.2% Fibonacci retracement level. The retracement indicates that the pair will rise to level 2.618 Fibonacci extension or level 86.35.

AUD/JPY – 4 Hour Chart

4-hour Chart Indicators Reading
The market is above the 40% 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 an uptrend. The market is rising on the upside to retest the resistance at level 85.20. The currency pair is expected to rise to level 2.618 Fibonacci extension or level 86.35.

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AUD/JPY Faces Stiff Resistance, Battles the Resistance at 85.00

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: Bullish
Since February 24, the currency pair has been in a sideways move. AUD/JPY has been facing rejection at the $85 resistance. In February and March, the upward moves were repelled. Meanwhile, on May 10, a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that the market is likely to rise to level 1.618 Fibonacci extension or level 86.21.

AUD/JPY – Daily Chart

Daily Chart Indicators Reading:
AUD/JPY pair has fallen to level 48 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 the uptrend.

AUD/JPY Medium-term Trend: Bullish
On the 1-hour chart, AUD/JPY pair is in a sideways move below level $84. The currency pair is fluctuating between levels 84.00 and 84.60. On May 24 uptrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that the pair is likely to rise to level 1.272 Fibonacci extension or level 84.42 and reverse.

AUD/JPY – 1 Hour Chart

1-hour Chart Indicators Reading
The AUD/JPY pair is above the 80% range of the daily stochastic. It indicates that the pair has reached the overbought region. The SMAs are sloping horizontally indicating the sideways trend. Sellers are likely to emerge at the overbought region to push prices down

General Outlook for AUD/JPY
AUD/JPY pair is in a sideways move. The pair is yet to trend as a result of the resistance at $85. The pair is fluctuating between level 82.00 and 85.00. The Fibonacci tool has indicated an upward move to level 1.618 Fibonacci extension or level 86.21.



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AUD/JPY Minor Double Top

Updated:

AUD/JPY reached a strong resistance area and now it could drop again in the short term. Is trading in the red at the 85.00 psychological level. Registering a new lower low could activate a sell-off.

The Aussie seems weak after the Monetary Policy Meeting Minutes. The Japanese Yen could take full control if the JP225 (Nikkei) starts decreasing in the short term.

AUD/JPY H1 Chart Analysis!

AUD/JPY found strong resistance right above the weekly pivot (85.05) and now it seems heavy again. Dropping and closing below 84.95 immediate low could signal a further decline in the short term.

I’ve drawn a minor descending pitchfork hoping that I’ll catch a sell-off after AUD/JPY has printed a minor Double Top reversal pattern. The pair has printed a false breakout above the upper median line (uml) confirming the upper median line (uml) as a dynamic resistance.

Conclusion!

Its failure to stabilize above the weekly pivot point (85.05) signaled a short-term decline. AUD/JPY could approach the major descending pitchfork’s median line (ML) if it stays within the minor descending pitchfork’s body.

 

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AUD/JPY Faces Rejection at Level 86.00 Resistance Zone, Resumes Range Bound Move

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: Bullish
On May 10, the currency pair reached a high of level 86.00. However, the bulls could not sustain the bullish momentum above level 86.00. For the past week, the pair has been in a downward move. The pair fell to level 84.50. Meanwhile, on May 10, a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that the market is likely to rise to level 1.618 Fibonacci extension or level 87.36.

AUD/JPY – Daily Chart

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

AUD/JPY Medium-term Trend: Bullish
On the 4-hour chart, AUD/JPY pair is in a sideways trend below level 85.50. On May 10, the bulls tested the resistance at 85.50 and pulled back. On April 29 uptrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that the pair is likely to rise to level 1.618 Fibonacci extension or level 86.13.

AUD/JPY – 4 Hour Chart

4-hour Chart Indicators Reading
The AUD/JPY pair is above the 40% 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
On May 10 uptrend; AUD/JPY pair was terminated at level 86.00 resistance. The currency pair fell back to the range-bound zone above level 84.50. The market is resuming upward above the current support.

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AUD/JPY Rebounds above Level 83.00, Resumes Uptrend

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: Bullish
On May 7, Buyers broke the resistance level at 85.00 which has been holding since February. As price closed above the resistance level, it is assumed that the uptrend has begun. In the previous action, the pair was fluctuating between levels 83.00 and 85.00. The market is expected to further rise to level 87.00.

AUD/JPY – Daily Chart

Daily Chart Indicators Reading:
AUD/JPY pair is at level 65 of the Relative Strength Index period 14. It indicates that the market is in the bullish trend zone. The 21-day SMA and the 50-day SMA are sloping upward indicating the uptrend.

AUD/JPY Medium-term Trend: Bullish
On the 4-hour chart, AUD/JPY pair is in a strong uptrend. The pair has broken the previous resistance level at level 85.00. On April 29 uptrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that the pair is likely to rise to level 1.618 Fibonacci extension or level 86.18.

AUD/JPY – 4 Hour Chart

4-hour Chart Indicators Reading
The AUD/JPY pair is above the 80% range of the daily stochastic. It indicates that the pair has reached the overbought region of the market. The SMAs are sloping upward indicating the uptrend.

General Outlook for AUD/JPY
AUD/JPY pair has resumed uptrend after three months of range-bound movement. The pair is currently retracing after breaking the overhead resistance. Nevertheless, the upward move is doubtful as the market reached the overbought region.


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AUD/JPY Range Breakout!

Updated:

AUD/JPY has decreased a little in the short term after escaping from a major range. It has come back down to test and retest the immediate support levels before jumping higher again.

The Japanese Yen was strong in the short term only because the Nikkei (JP225) dropped. Still, the Japanese stock index maintains a bullish outlook despite yesterday’s sell-off.

JP225’s growth should force the Yen to depreciate versus its rivals.

AUD/JPY H4 Chart Technical Analysis

 

AUD/JPY  is traded back near 84.477 static resistance after failing to stabilize below the weekly pivot (84.261). It has only registered a false breakdown through the ascending pitchfork’s lower median line (LML).

Now is pressuring also the upper median line (uml) of the descending pitchfork. A valid breakout above this line and a new higher high, a bullish closure above 84.569, could signal a further growth at least towards the weekly R1 (85.025).

 

Conclusion!

AUD/JPY may resume its growth if it manages to stabilize above 84.477 range resistance. The bias remains bullish as long as the rate is located within the ascending pitchfork’s body.

The median line (ML) is seen as an upside target if the price continues to increase. The upside scenario could be invalidated by a new drop below the weekly pivot of 84.261.

 

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