Skip to content
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
More View more
AUD/USD, USD/JPY, Dollar & More: Charts at a Glance

AUD/USD, USD/JPY, Dollar & More: Charts at a Glance

Paul Robinson, Strategist

AUD/USD had a look in its eye to end 2019 that hinted at a possibly broad trend reversal after having been stuck in such a persistent downtrend since early 2018. Breaking of trend-lines, higher-highs since bottoming in Q4 may have all been part of a larger corrective pattern, though.

The swift turn lower the past few sessions has knee-capped the idea that maybe Aussie will gain traction. It still could, but potential has given-way significantly to the notion that the price action the past few months is only corrective in nature in an ongoing downtrend. Next up as support is the lower parallel off the October 1 low. A bounce from there could develop, but a break below is seen as kicking off an even larger move lower.

AUD/USD Daily Chart (strong down-move has lower parallel in focus)

AUD/USD daily chart

AUD/USD Chart by TradingView

USD/JPY ended last year by breaking a very tight 2.5 month-long channel. Price is currently testing resistance around 10850, a turn down from there should get the pair resuming lower towards the next shelf of support around the 10650-line.

USD/JPY Daily Chart (channel breakdown)

USD/JPY daily chart

For all the charts we looked at, check out the video above…

Resources for Index & Commodity Traders

Whether you are a new or an experienced trader, DailyFX has several resources available to help you; indicator for tracking trader sentiment, quarterly trading forecasts, analytical and educational webinars held daily, and trading guides to help you improve trading performance.

We also have a series of guides for those looking to trade specific markets, such as the S&P 500, Dow, DAX, gold, silver, crude oil, and copper.

---Written by Paul Robinson, Market Analyst

You can follow Paul on Twitter at @PaulRobinsonFX

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

DISCLOSURES