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
Oil - US Crude
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
Wall Street
Bearish
Gold
Mixed
GBP/USD
Bearish
USD/JPY
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
More View more
Real Time News
  • President Biden: - We agreed to do more to enhance the resilience of critical infrastructure around the world - More work to do to beat the virus; we cannot let our guards down
  • AUD/USD is little changed from the start of the year as the Reserve Bank of Australia (RBA) remains reluctant to normalize monetary policy. Get your $AUDUSD market update from @DavidJSong here:https://t.co/nkHYQMMv4F https://t.co/V70PNu3FRd
  • President Biden: - Endorsed new (NATO) cyber defense policy - Adopted climate security plan (NATO)
  • Bitcoin slightly off its intraday highs, currently trading back below $40,000 #Bitcoin $BTCUSD https://t.co/MYISOU8c9B
  • The US 10Y beginning to retrace some of last week's rally, slowly crawling back towards 1.50% https://t.co/P2a5fHQUlq
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.03% Silver: -0.22% Gold: -0.70% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/XxGZAbPEdL
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Gold are long at 74.73%, 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/7XIu5r1o2l
  • #Euro Forecast: $EURUSD Falters at Yearly Open Resistance- #FOMC Levels - https://t.co/uWukTncIRg https://t.co/dn84mhHxQx
  • The gold monthly opening-range is set just below confluence resistance – breakout to offer guidance. Get your $XAUUSD market update from @MBForex here:https://t.co/19rCMiLlxG https://t.co/uFGK8q14KG
  • WTI Crude Oil Breakout (Update) https://www.dailyfx.com/forex/analyst_picks/todays_picks/james_stanley/2021/06/14/wti-crude-oil-breakout-update.html $oil #oott https://t.co/UGOItnUhgd
AUD/JPY Recovery Stalls at Resistance- Monthly Opening Range in Focus

AUD/JPY Recovery Stalls at Resistance- Monthly Opening Range in Focus

Michael Boutros, Strategist

To receive Michael’s analysis directly via email, please SIGN UP HERE

AUD/JPY Daily Chart

AUD/JPY Price Chart - Daily Timeframe

Technical Outlook: AUD/JPY has been trading within the confines a well-defined descending pitchfork formation extending off the yearly highs with prices trading into resistance today at the 38.2% retracement at 86.16. Note that the 200-day moving average also comes in just ahead of this level and a close above would be needed to keep the upside momentum going. That said, look for interim support / near-term bullish invalidation at the monthly open at 85.12.

New to Forex? Get started with this Free Beginners Guide

AUD/JPY 240min Chart

AUD/JPY Price Chart - 240min Timeframe

Notes: A closer look at price action highlights a near-term ascending pitchfork formationextending off the November lows with the upper parallel (blue) converging on the 38.2% retracement at 86.16. Look for interim support along the median-line with the lower parallel further highlighting the monthly open at 85.12- A break below this level would be needed to mark resumption of the broader downtrend targeting key support at 84.13/25.

A breach above this high would likely see accelerated gains for the pair with such a scenario targeting the upper parallel of the downslope / 86.77. Bottom line: near-term divergence into this confluence resistance level leaves the immediate advance at risk while below 86.16 with a break below this formation needed to mark the end of the recovery. Keep in mind we get the release of Australia 3Q GDP figures tomorrow.

Join Michael on Friday for his bi-weekly Live Webinar on the Foundations of Technical Analysis- Register for Free Here!

AUD/JPY IG Client Sentiment
  • A summary of IG Client Sentimentshows traders are net-long AUDJPY- the ratio stands at +1.14 (53.2% of traders are long) – weak bearishreading
  • Retail has remained net-long since Nov 28; price has moved 1.1% higher since then
  • Long positions are 20.8% lower than yesterday and 8.5% lower from last week
  • Short positions are 21.5% higher than yesterday and 21.4% lower from last week
  • We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests AUDJPY prices may continue to fall. However, traders are less net-long than yesterday but more net-long from last week. The combination of current positioning and recent changes gives us a further mixed AUDJPY trading bias from a sentiment standpoint.

See how shifts in AUD/JPY retail positioning are impacting trend- Click here to learn more about sentiment!

---

Relevant Data Releases

AUD/JPY Economic Calendar

Why does the average trader lose? Avoid these Mistakes in your trading

Other Setups in Play

- Written by Michael Boutros, Currency Strategist with DailyFX

Follow Michael on Twitter @MBForex or contact him at mboutros@dailyfx.com

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

DISCLOSURES