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Currencies Trading Ideas & Charts

AUD/JPY Price Analysis: Despite A Positive Australian Q2 CPI, The Pair Is Off Its Intraday High.

While the weekly bottom near 80.60 may provide immediate support ahead of the monthly low near 79.80, the psychological magnet of 80.00 may act as an additional filter to the south.

It’s worth mentioning that the pair’s weakness beyond 79.80 will need to be confirmed by the yearly low near 79.20 before the AUD/JPY bears are directed to late December 2020 tops near 78.80.

The AUD/JPY currency pair is currently trading at 80.98, with a daily change of 0.05 percentages the same day.

AUD/JPY: Four-hour chart

(Source: FactSet)

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Currencies Trading Ideas & Charts

AUD/USD last Week Price Prediction – The Australian Dollar Remains Very Weak

The Australian dollar has struggled last week, as we have been unable to breach above the 0.75 handle. However, if Australia continues to tighten its grip on the market, it will be intriguing to monitor.

The lockdown has already stretched from Sydney to Melbourne, and given enough time, the Australians will find a cause to lock down the rest of the country. At this moment, I believe the Australian dollar is poised to decline to 0.70, particularly if we can breach below the 0.74 mark.

If we wear down below that level, I believe the bearish trend will ramp up, and the scenario will indeed be more or less a danger event. The US Currency Index keeps threatening a breakout to the higher, indicating that the US dollar is gaining traction.

This would be fascinating to see if this plays out, because we are presently on the verge of a breakdown, and at that time, I would not only continue to be short the Australian dollar, but I would also be looking for ways to add to my position.

Source: fxempire

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Price of the Australian dollar against the Japanese yen remains pressed towards the 200-day moving average (DMA)

In a quiet Asian trading session on Monday, the AUD/JPY remains under pressure around 81.45. As a result, the cross-currency pair has failed to maintain Friday’s rally off the monthly low while remaining below a downward sloping trend line that has been in place since June 25. The MACD signs are also in favour of the selling.

However, the pair’s potential decline is hampered by an oversold RSI and proximity to the major moving average. For the time being, AUD/JPY trades are aimed at 200-DMA support near 81.20, followed by the 81.00 level. However, the pair’s further decline could be challenged by January’s high near 80.90.

The 50 percent Fibonacci retracement of the September 2020 to May 2021 upside, near 79.50, will be the key to watch if the bears keep the reins below 80.90. In the meantime, any correct pullback will be deemed mild unless it stays below a short-term resistance line near 82.30.

Following that, the bulls may be enticed by the recent swing high near 82.80 and April’s low near the 83.00 round figure.

Source: fxstreet

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Currencies Trading Ideas & Charts

AUD/JPY Likely To Continue Declining

On the other hand, Bearish traders may find support at 81.13 in the coming trading sessions.

AUD/JPY 4 hourly chart

(Source: Fxstreet)

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Currencies Trading Ideas & Charts

AUD/JPY Sentiment Outlook – Bearish

Currently, Daily High is 81.749 while daily low is 81.456.
A bearish crossover between the 20- and 50-day SMAs suggests a near-term technical tendency to the downside.
The 200-day SMA, on the other hand, is approaching, and it could reintroduce the main upward trend as critical support.

(Source: FX Street)
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AUD/JPY Price Analysis: Offered 15 Week Old Support Line Above 82.00

Meanwhile, before aiming for the monthly declining trend line near 83.50, the corrective bounce will have to clear the 82.80 immediate barriers.

The late May low near the 84.00 round figure is also acting as a major upside hurdle.

To sum up, the AUD/JPY remains under pressure, although bearish are waiting for confirmation of even more losses.

(Source: Fxstreet)

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Currencies Trading Ideas & Charts

AUD/JPY Price Analysis: Bears in Control, Eye Daily Extension

AUD/JPY Daily Chart

The price is in a negative trend, and given the recent pullback, which has started to lose steam, there is a chance that the trend will continue to the downside.

Current high is at 82.251 and current low is 81.881.

(Source: FX Street)

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AUD/JPY Prints three-day uptrend below 83.00 despite coronavirus fears

After the largest virus infections since September, Australian policymakers tighten activity restrictions in crucial locations, such as New South Wales, while also indicating that lockdowns will be extended for a few weeks.

On the other side, Japanese officials have already extended the Tokyo emergency and are prepared to provide free vaccine passports, not to mention hold no-spectator Olympics, in order to deflect criticism of holding a sporting event in the midst of a pandemic.

Alternatively, UK diplomats continue to work on a July 19 unlock date, while US health officials deny the necessity for Pfizer booster shots for fully vaccinated Americans.

Stock futures are actually moving near the record high, while shares in Australia and Japan have gained 0.50 percent and 0.78 percent, respectively, as of press time. The 10-year Treasury yields in the United States have remained firmer for the third day in a row.

Moving on, the conflicting headlines and China’s June trade data may entice intraday traders. However, the Bank of Japan’s (BOJ) monetary policy meeting this week will be closely watched, as officials may reduce economic predictions in the wake of the virus’s recovery, putting pressure on the Japanese yen (JPY).

(Source: FX Street)

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AUD/JPY Neutral Weekly Technical Outlook

Daily Candlestick Chart

While there is still a bearish crossover between the 20- and 50-day SMAs, the 200-day counterpart could keep the attention on the upward.

Positive RSI divergence is also present, which could signal a move higher towards the SMAs in the short term.

(Source: Daily FX)

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AUD/JPY Price Analysis: Bear Maintains Control below 83.00

For the previous two weeks, the AUD/JPY has been trading in a price band between 82.80 and 84.20 on the daily chart.

Daily candle stick chart Price action

If price falls below the intraday low of 82.69, it may try the 82.50 horizontal support level before testing the June 21 low of 82.13.

With a bearish crossover, the Moving Average Convergence Divergence (MACD) indicator is in the oversold zone. Any drop in the MACD could amplify the bearish trend.

Bears in the AUD/JPY would look to test the 81.99 level, which was reached on February 26.

Alternatively, if price reverses course, it might return to the 83.00 horizontal resistance level, then to the 83.35 high set on June 30.

A daily close above 83.35 would allow the 83.50 horizontal resistance area to open up.

(Source: FXSTREET)

General Advice Warning

Any advice/ information provided is general in nature only and does not take into account the personal financial situation, objectives or needs of any particular person.