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.

0

Notifications

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

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
Mixed
Wall Street
Bearish
Gold
Mixed
GBP/USD
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
USD/JPY
Mixed
More View more
Real Time News
  • Going live shortly at the link below! Talking inflation, the Fed and what it all means for the $SPX and $NDX and $GLD https://t.co/E2HHhB5GWD
  • The Dollar's rebound following the CPI release is re-forming the 'right shoulder' on the $AUDUSD's Head-and-Shoulders pattern that has been developing throughout 2021. Run up started with the Mar 19, 2020 reversal low, so a lot to correct if 0.7550 eventually gives https://t.co/NrAU370cwl
  • Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.06% 🇬🇧GBP: -0.35% 🇨🇭CHF: -0.59% 🇯🇵JPY: -0.71% 🇦🇺AUD: -1.22% 🇳🇿NZD: -1.35% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/SqTzV7xT3f
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 1.18% Germany 30: 0.72% France 40: 0.64% Wall Street: -0.84% US 500: -1.12% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/t2cIOfCEmP
  • Hey traders! The top story is US inflation figures. What other data are we banking on? Find out from @DailyFX Chief Strategist @JohnKicklighter 👇 https://t.co/5g8GYPuFks
  • US Dollar bulls send the broader DXY Index sharply higher following red-hot inflation data. Get your market update from @RichDvorakFX here:https://t.co/27CGGOsTxh https://t.co/3uERS5kICD
  • Hey traders! The Top story is US inflation figures. What other data are we banking on? Find out from @DailyFX Chief Strategist @JohnKicklighter 👇 https://t.co/ziropKKK2E
  • I don't envy the Fed officials today. These headline and core CPI figures are going to be distressing. Maintaining the 'inflation is transitory' view is the central bank equivalency of HODL or diamond hands https://t.co/jm99h6f89u
  • Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 1.70% Gold: -0.39% Silver: -0.77% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/bkkaIuBhqz
  • Ten-Year US Treasury yields breaking out above 165-basis points following notably hotter-than-expected inflation data this morning. Headline and core CPI both topped market forecast with readings of 4.2% and 3.0%, respectively. I previewed this scenario yesterday on @tradingview. https://t.co/Fgc0RZe2nw https://t.co/VHmkcuJm9p
AUDJPY Support and Resistance Update

AUDJPY Support and Resistance Update

Walker England, Forex Trading Instructor

Talking Points

  • AUDJPY Opens in a 34 Pip Range
  • Range Resistance Sits at 94.07
  • Range Reversals Triggered Under 93.56

AUDJPY 30Minute Chart

AUDJPY Support and Resistance Update

(Created using FXCM’s Marketscope 2.0 charts)

Looking for more FX Reversals? Sign up for my email list here: SIGN UP HERE

The AUDJPY currency pair has opened Tuesday’s trading moving inside of a defined 34 pip range. Price has already traversed the range four times, and is now sitting at range resistance. Current resistance can be seen in the graph above at the R3 pivot at a price of 94.07. In the event that price moves off of resistance, reversal traders can begin targeting lines of support starting with the S3 pivot at 93.73. A move to support would complete another extension of the range, at which point traders would watch for new opportunities to buy the pair if price remains supported.

A breakout would signal an end to current range bound market conditions for the AUDJPY. A price break above the R4 pivot at 94.24 would signal a new bullish momentum with the creation of a higher high. Conversely, a price drop below the S4 pivot at 93.56 would suggest further weakness for the pair in the direction of its current daily trend. In either breakout scenario, traders should look to conclude any existing range bound opportunities while looking to trade with the markets new chosen direction.

AUDJPY Support and Resistance Update

Suggested Reading: Trading Intraday Market Reversals

Yesterdays Update

Yesterday’s reversal article focused on the USDCHF opening the morning inside of a 38pip range. After a brief retracement, the US Dollar weakened sending the pair to the S4 support pivot. To learn more about Friday’s action, check out the FX Reversal article linked below.

FX Reversals: USDCHF Price Reversal Update

Then, to practice setting up orders using Camarilla Pivots, register for a FREE Forex demo with FXCM. This way you can develop your day trading techniques while tracking the market in real time.

Click HERE to Register Now

---Written by Walker England, Trading Instructor

To Receive Walkers’ analysis directly via email, please SIGN UP HERE

To contact Walker, email instructor@dailyfx.com.

Contact and Follow Walker on Twitter @WEnglandFX.

http://forms.aweber.com/form/53/1295829753.htm

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

DISCLOSURES