FxWirePro
Long

AUD/JPY extends recovery from multi-year lows, good to buy dips

FX:AUDJPY   Australian Dollar/Japanese Yen
400 1 3
10 months ago
Poor Chinese inflation data released over the weekend raised concerns over China’s ability to boost the economic growth, denting risk appetite and boosting yen.

AUD/JPY             slumped to a multi-year low of 80.88, levels not seen since Oct             2012, but was rejected at lows as buying emerged.

The pair later rebounded higher towards 82 handle, on the back of strong pullback seen in the USD/JPY             pair, but strong resistance is seen at 81.95 levels.

Breaks above could take the pair to next hurdle at 82.95 (5-DMA) and then to 83.90 (Jan 8th highs).

To the downside immediate support might be located 80.88 (Session lows Jan 11) below that at 79.50 ( Oct             2012 Level).

Broader market sentiment will continue to dominate markets amidst a data-light economic calendar today.

We would buy dips around 81.50, SL: 80.80, TP: 82.95/83.90
10 months ago
Trade active: Upside in the pair was capped by 5-DMA which is currently at 82.44, further upside could be seen on break above

Booked partial profits around 83 levels, holding for further gains, raised trailing stops to 81.40
10 months ago
Trade active: AUD/JPY has on the day breached 5-DMA resistance at 82.29

Momentum is with the bulls, gains upto 85 levels likely, raise trailing stops to 82 levels
Thanks! I like this analysis.
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out