News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
Jamie's Pick: 08/20/12

Jamie's Pick: 08/20/12

Jamie Saettele, CMT, Sr. Technical Strategist

Keep an eye on the AUDJPY. As focused on last week, FX risk barometers are not confirming strength in equity risk barometers. A view at the separate components makes the case for a sharp decline in the cross as well. Former AUDUSD support is serving as resistance at 10475 and the USDJPY is reacting at the HUGE 7960 level. 7960 is defined by the 61.8% retracement of the decline from 8061 and the 161.8% extension of the 7790-7879 advance.

8400/80 is resistance in the event of a blow-off in the AUDJPY (I have my doubts about that however as risk seems to be rolling over now).

I remain short AUDUSD and new USDJPY shorts makes me short AUDJPY. The stop on the JPY leg is 7970 and the target is a new all-time low.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.