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AUDJPY at 20 Day Lows for First Time Since November

AUDJPY at 20 Day Lows for First Time Since November

2012-03-29 14:29:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Morning Notes:

AUDJPY – The unwinding continues and the drop to 20 day lows is the first since November. Near term focus is lower towards the 100% extension of the 8863-8518 decline, at 8410. Former resistance reinforces this level at 8385. 8535 is resistance.

AUDJPY_at_20_Day_Lows_for_First_Time_Since_November_body_audjpy.png, AUDJPY at 20 Day Lows for First Time Since November

Prepared by Jamie Saettele, CMT

USDJPY – The USDJPY is back at 5 day lows which shifts focus to the 100% extension of the 8409-8197 decline, at 8125. 8240/60 is short term resistance and the near term trend is considered sideways/down below 8338.

AUDJPY_at_20_Day_Lows_for_First_Time_Since_November_body_usdjpy.png, AUDJPY at 20 Day Lows for First Time Since November

Prepared by Jamie Saettele, CMT

AUDUSD – The AUD is again the biggest loser on the day and the break to 20 day lows shifts focus to former pivots at 10220 and the 2012 low (1/9 low) at 10145. The bias is bearish against 10560 for medium term players and 10405 for shorter term traders.

AUDJPY_at_20_Day_Lows_for_First_Time_Since_November_body_audusd.png, AUDJPY at 20 Day Lows for First Time Since November

Prepared by Jamie Saettele, CMT

To contact Jamie e-mail jsaettele@dailyfx.com. Follow me on Twitter @JamieSaettele

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Jamie is the author of Sentiment in the Forex Market.

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

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