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
Wall Street
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
More View more
Real Time News
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here:
  • Get your snapshot update of the of top level exchanges and key index performance from around the globe here:
  • RT @FxWestwater: Japanese Yen Forecast: JPY Crosses Eye BoJ, CPI as Haven Flows Bolster Yen Strength Link: https:/…
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here:
  • Stocks appear to be in a corrective phase but could get put to the test; levels and lines to watch in the days ahead. Get your weekly equities forecast from @PaulRobinsonFX here:
  • Currency exchange rates are impacted by several factors. Are different world leaders a contributing factor? Find out here:
  • Further your forex knowledge and gain insights from our expert analysts on AUD with our free guide, available today:
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here:
  • Trading Forex is not a shortcut to instant wealth, excessive leverage can magnify losses, and sentiment is a powerful indicator. Learn about these principles in depth here:
  • Risk management is one of the most important aspects of successful trading, but is often overlooked. What are some basic principles or risk management? Find out from @PaulRobinsonFX here:
AUD/JPY Targets Support Ahead of Australian Employment Report

AUD/JPY Targets Support Ahead of Australian Employment Report

Michael Boutros, Strategist
  • AUD/JPY in consolidation ahead of Australian Employment Report
  • Updated targets & invalidation levels
  • Check out FXCM’s Forex Trading Contest!

AUDJPY 30min

AUD/JPY Targets Support Ahead of Australian Employment Report

Chart Created Using FXCM Marketscope 2.0

Technical Outlook: AUDJPY has been trading within the confines of a descending median-line formation extending off the March & April highs with the pair in consolidation after stretching into a low of 78.17 earlier this month. The upper median-line parallel converges on the topside of this consolidation range at 80.54/68 – a region also defined by the April low, the monthly open and last week’s high. We’ll reserve this threshold as our bearish invalidation level with a breach above the 81.04 needed to validate a larger scale reversal targeting 81.95 & more significant resistance into 82.43/57.

A break below the monthly low-day close at 78.82 keeps the short-bias in focus targeting at 78.17 & the yearly low at 77.57. Heading into tonight’s Australian employment data, I would be looking for near-term weakness to offer a test of support – look for a reaction there. Typically these patterns are continuation patterns but I wouldn’t be surprised to see a near-term reversal given the respective Aussie & Yen positioning vs the dollar. Continue tracking this setup and more throughout the week- Subscribe to SB Trade Desk and take advantage of the DailyFX New Subscriber Discount.

Avoid the pitfalls of near-term trading strategies by steering clear of classic mistakes. Review these principles in the "Traits of SuccessfulTraders” series.

AUD/JPY Targets Support Ahead of Australian Employment Report
  • A summary of the DailyFX Speculative Sentiment Index (SSI)shows traders remain net long AUDJPY- the ratio stands at just 2.75 (76% of traders are long)- bearishreading
  • Yesterday the ratio was 2.73; long positions are 1.4% higher than yesterday and 6.1% above levels seen last week
  • Open interest is 1.2% higher than yesterday and 8.6% above its monthly average.
  • SSI has typically not held at these extremes for too long and over the past year you can see pullbacks off these levels are typically accompanied by a reprieve for the broader downtrend- Bottom line: risk remains for a bounce before we break lower.

Why and how do we use the SSI in trading? View our video and download the free indicator here

Relevant Data Releases This Week

AUD/JPY Targets Support Ahead of Australian Employment Report

Other Setups in Play:

Looking for more trade ideas? Review DailyFX’s Top Trading Opportunity of 2016

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

Follow Michaelon Twitter @MBForex contact him at or Click Here to be added to his email distribution list

Join Michael for Live Scalping Webinars on Mondays on DailyFX and Tuesday, Wednesday & Thursday’s on SB Trade Desk at 12:30 GMT (8:30ET)

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