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.

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
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
GBP/USD
Mixed
USD/JPY
Bullish
More View more
Real Time News
  • Currency exchange rates are impacted by several factors. Are different world leaders a contributing factor? Find out here: https://t.co/4jsORznRTE https://t.co/iNRhvCpBWM
  • ECB's Makhlouf says it is too early to discuss the end of PEPP
  • Ever wonder if there are other chart types that can be sued for technical analysis? HLOC charts are discussed in the following article as well as their pros and cons. Learn more here: https://t.co/qV3c7a4YR3 https://t.co/9TD1uIcaGT
  • 🇺🇸 MBA Mortgage Applications (11/JUN) Actual: 4.2% Previous: -3.1% https://www.dailyfx.com/economic-calendar#2021-06-16
  • Japan to lift virus emergency in Tokyo on June 20th - NHK
  • IG Client Sentiment Update: Our data shows the vast majority of traders in USD/CHF are long at 75.63%, while traders in France 40 are at opposite extremes with 78.49%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/wJrICZqKdO
  • Heads Up:🇺🇸 MBA Mortgage Applications (11/JUN) due at 11:00 GMT (15min) Previous: -3.1% https://www.dailyfx.com/economic-calendar#2021-06-16
  • Commodities Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Silver: 0.35% Oil - US Crude: 0.10% Gold: -0.03% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/QXvglfWfl7
  • What suits your style of trading stocks or commodities? Find out what are the differences in these two markets here: https://t.co/BnA07cMV0s https://t.co/ZK5Dm7t8XR
  • Forex Update: As of 10:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.31% 🇦🇺AUD: 0.25% 🇬🇧GBP: 0.23% 🇨🇦CAD: 0.02% 🇪🇺EUR: -0.05% 🇨🇭CHF: -0.06% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/g7MjRIBWpn
AUDJPY Snaps 9 Day Losing Streak- Long Scalps Favored Above 91.20

AUDJPY Snaps 9 Day Losing Streak- Long Scalps Favored Above 91.20

Michael Boutros, Strategist

Talking Points

AUDJPY Daily

AUDJPY Snaps 9 Day Losing Streak- Long Scalps Favored Above 91.20

Chart Created Using FXCM Marketscope 2.0

Technical Outlook

  • AUDJPY posts daily outside reversal candle off multi-year TL support- (near-term bullish)
  • Rally takes out initial weekly / monthly opening range at 91.60 (interim support)
  • Interim resistance 92.42 backed by key resistance at 92.95-93.00
  • Key support & bullish invalidation at 90.20/49
  • Daily RSI holds 40-support (constructive)
  • Pending momentum resistance trigger- breach would validate near-term reversal
  • Event Risk Ahead: Bank of Japan Monetary Policy Statement tonight, FOMC minutes tomorrow

AUDJPY 30min

AUDJPY Snaps 9 Day Losing Streak- Long Scalps Favored Above 91.20

Notes:The AUDJPY as responded to a multi-year TL support extending off the 2009 & 2012 lows with today’s RBA inspired outside reversal candle taking the pair through the initial weekly opening range at 91.19. Our focus remains weighted to the topside while above this region with near-term resistance eyed at the confluence of slope resistance & the 50% retracement of the decline at 92.43 heading into European trade.

Bottom line: looking to buy pullbacks while within this formation with a breach above 92.43 targeting more significant resistance at 92.95-93.00. Subsequent topside targets are eyed at 93.46, 93.80 & 94.50/73. A break of the weekly ORL shifts the short-side bias back into play targeting the 90-handle. A quarter of the daily ATR yields profit targets of 25-27pips per scalp. Caution is warranted heading into event risk tonight with the Bank of Japan interest rate likely to fuel added volatility in yen crosses.

* It’s extremely important to give added consideration regarding the timing of intra-day scalps with the opening ranges on a session & hourly basis offering further clarity on intra-day biases.

Relevant Data Releases

AUDJPY Snaps 9 Day Losing Streak- Long Scalps Favored Above 91.20

Other Setups in Play:

---Written by Michael Boutros, Currency Strategist with DailyFX

For updates on this scalp and more setups follow him on Twitter @MBForex

To contact Michael email mboutros@dailyfx.com or Click Here to be added to his email distribution list

Join Michael for Live Scalping Webinars on Mondays on DailyFXat 12:30 GMT (8:30ET)

Interested in learning about Fibonacci? Watch this Video

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

DISCLOSURES