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
Bullish
Wall Street
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
Gold
Bullish
GBP/USD
Mixed
USD/JPY
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
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/5nHxtlZ7nn
  • 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: https://t.co/IsnpfJhp91 https://t.co/lqpXwWjVFt
  • Looking for a new way to trade reversals? One of the most used reversal candle patterns is known as the Harami. Like most candlestick formation patterns, the Harami tells a story about sentiment in the market. Get better with trading reversals here: https://t.co/rfwUWJfbz9 https://t.co/CrpXuYgfRO
  • MACD who? The Moving Average Convergence Divergence (MACD) is a technical indicator which simply measures the relationship of exponential moving averages (EMA). Find out how you can incorporate MACD into your trading strategy here: https://t.co/ZNs4Qi8ieG https://t.co/VzEbQn8blk
  • Brush up your knowledge on trade-wars with this tool from DailyFX research briefly outlining trade-war history dating back to the early 1900s here: https://t.co/bZEFtp8kFe https://t.co/ETF52Q2sLz
  • Did you know a Doji candlestick signals market indecision and the potential for a change in direction. What are the top five types of Doji candlesticks? Find out https://t.co/c51s3IBcEu https://t.co/AXZxK8Abrh
  • Global stock markets may see turbulent volatility if darkening clouds over Washington’s relations with Beijing turn into a geopolitical storm. Which assets will be the lifeboat? Find out here:https://t.co/RkFI6qAyik https://t.co/9Ppa4d48Ql
  • The Dow Jones and S&P 500 outlook appears bleak in the near term as retail traders increase their upside exposure. At the same time, these indices confirmed bearish technical warning signs. Get your market update from @ddubrovskyFX here:https://t.co/fKCHELbOxo https://t.co/e0liqVDzw6
  • The Japanese Yen may fall against its major peers, but there is room for a near-term climb that wouldn’t necessarily overturn a bearish technical bias. USD/JPY is eyeing support. Get your market update from @ddubrovskyFX here:https://t.co/AEnQCXnwAL https://t.co/tuq7DDF3jE
  • Protests in Colombia may continue to pressure the Peso, but surging commodity prices and a weaker Greenback could curb USD/COP gains. Get your market update here:https://t.co/vcVH75xuKI https://t.co/kEvbsagB4a
AUD/JPY Faces a Key Resistance Level - Australian Dollar vs JPY Price Outlook

AUD/JPY Faces a Key Resistance Level - Australian Dollar vs JPY Price Outlook

Mahmoud Alkudsi, Analyst

Australian Dollar vs Japanese Yen Technical Forecast

  • Bears show more sway after pressing AUD vs JPY to its lowest level in over a decade
  • Will bears give up control?

Bears Ease Up

On Thursday, Aussie Dollar tested its lowest level in nearly eleven years against Japanese Yen at 59.90. In the following day, the market recovered some of its losses then closed above 64.00 handle.

Alongside that, the Relative Strength Index (RSI) abandoned oversold territory, highlighting weaker downtrend move.

AUD/JPY DAILY PRICE CHART (Oct 11, 2018 – Mar 25, 2020) Zoomed OUT

AUDJPY daily price chart 25-03-20 zoomed out

AUD/JPY DAILY PRICE CHART (FEB 17 – Mar 25, 2020) Zoomed IN

AUDJPY daily price chart 25-03-20 zoomed in

Looking at the daily chart, we noticed in late February AUD/JPY started a downtrend move creating lower highs with lower lows. By the end of last week, the market rebounded then rose to current trading zone 64.08- 67.18 as bears seemed to cover.

Today, the price has tested the high end of the zone. Therefore, a close above the high end could rally AUDJPY towards 70.21. Further close above that level might extend the rally towards 71.87. That said, the weekly resistance levels underscored on the chart (zoomed in) should be considered as some traders could exit/join the marker around these points.

In turn, any failure in closing below the high end could reverse the pair’s direction towards the low end of the zone. Further close below that level indicates that bears may come back and press towards 61.67. In that scenario, the weekly support levels printed on the chart should be watched closely.

AUD/JPY Four-Hour PRICE CHART (Mar 11– Mar 25, 2020)

AUDJPY Four hour chart 25-03-20

From the four- hour chart, we noticed that on Monday AUD/JPY generated a bullish signal as violated the downtrend line originated from the March 11 high at 68.79. Later on, the market rallied eyeing a test of the neckline of inverted head and shoulders pattern. The price could rally towards 71.00 handle if remains above 65.62.

Thus, a break above 68.45 would provide another bullish signal. This may push AUDJPY towards 69.48. Although, the weekly resistance level underlined on the chart would be worth monitoring. On the other hand, a break below 64.92 could send the pair towards the low end of current trading zone discussed above on the daily chart. Nevertheless, the daily support level marked on the chart should be watched closely.

See the chart to find out more about key levels Cable would encounter in a further bearish /bullish scenario.

Written By: Mahmoud Alkudsi

Please feel free to contact me on Twitter: @Malkudsi

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

DISCLOSURES