Australian Dollar-Yen (AUD/JPY)

 

Aussie - Japanese Yen (AUD/JPY) Analysis

 

(Please refer daily currency charts and not short-term charts e.g. hourly charts. All technical analysis indicators for the weekly AUD/JPY outlook and forecast are based on the daily forex charts and in some cases 4-hourly charts. The trading strategies and forecast is based on the technical and fundamental outlook.)

Aussie Dollar-Yen (AUD/JPY) Forecast

 

Previous Outlook of AUD/JPY:

"2 Weeks Back:  If the support over 85.65 holds and a decisive break over 86.80 takes place then we would expect further upward gains towards 87.60/87.80 resistance zone."

AUD/JPY Outlook For This Week:

Please check the relative strengths of recent economic releases and technical indications at following links as the base of this week's AUD/JPY outlook. We recommend to check the economic strength meter on Fundamental Outlook page.

AUD/JPY Fundamental Outlook

AUD/JPY Technical Outlook

 

Australian Dollar-Yen (AUD/JPY) went as high as 89.04 before retracing to 87.54 and then closing for the week at 87.62.
 

The break over the high of March 2012 Australian Dollar-Yen (AUD/JPY) went as high as 89.04 before retracing to 87.54 and then closing for the week at 87.62.i.e. 88.63 indicates the underlying bullish sentiments but the recent correction reflects the resistance of the approaching psychological level of 90.00. The previous effort to test that level was in April 2011 i.e. over 20 month back and at that time also AUD/JPY had failed at 90.03.

Considering this and the recent price action we would expect some more downward consolidation. On the downside we expect some support 87.20. In case there is any decisive break blow this support then further consolidation towards 86.60/86.65 should take place. This support is derived from the previous resistance during the sideways move during November 25th to December 10th. This previous resistance zone should act as support. Also the psychological support of approaching 85.00 ranges should start coming into the picture near there. Even if this support gets broken, we would expect a strong support near 86.20.
 

Overall considering the psychological supports and resistances, we expect some volatile moves between 85.80 and below 90.00 during the coming days.
 

AUD/JPY Trading Strategies:

As mentioned above, though the outlook is bullish but considering the effect of 90.00, we expect some downward consolidation and would be carefully on short-selling side to target the mentioned supports. But as overall sentiments are bullish, the stop-loss will be tight. Also considering the possibilities of mentioned volatile sideways moves, we shall look forward for buying at the support levels. We may be referring to Bollinger bands on daily chart for buying and selling.


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For short term Forex trades, please refer to daily technical analysis for Australian dollar/Japanese Yen at AUD/JPY daily analysis.

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Aussie/Yen Interest rate Comparison
(For Carry Trade)


3.00%


0.10%


2.90%

 

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