AUDJPY felled below 50% Fibonacci level
AUDJPY
Price has reached around 78.500 which is a August month high and the upward momentum is shifted towards downwards as the risk aversion creeps in the market. The vaccine hopes supported the risk proxy for the past two months.
The vaccine trial was put on hold by Astrazenca pharma company due to the some side effects caused by the unapproved vaccine and in many other countries are conducting the trials on side by side
The number of coronavirus cases are surging everyday around the world. Even in Europe and in England the COVID-19 cases are rising the the government is preparing for the fresh lockdown measures. And the political developments around the world will cause the demand for safe heaven assets
The healthy relationship between the government of Australia and People republic of china as both sides are preparing for fresh sanctions against each other on particular imports such as wine and beef. Though the industrial activity in china is back to the pre pandemic level this will support the Australian dollar too. But the deteriorating relationship between two countries will make the AUD less attractive
The Japanese PM has resigned on the health grounds and the Newly elected PM Suga said that they will follow the abonomics in coming days. Which in turn will support the buying of Japanese yen
The AUDJPY is the perfect pair to measure the current risk sentiment of the market. The price has felled around 4.1% from August high. If the price reached the 78.6% then it might lose around 6% from the August high level
Currently AUDJPY is trading below the 50% Fibonacci retracement level. And below the 76.000 level
The lower trend line which is holding this pair since 12 June was broken. Ichimoku clouds is pointing towards south
On Elliot wave principal Currently 3rd wave is forming the we are expecting that this wave will end at 73.800 level which is a 78.6% Fibonacci level
The price has felled below the 50,100,200 EMA. RIS has reached 20 level which indicates the minor rebound towards 50% Fibonacci level. MACD is turned red
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Price has reached around 78.500 which is a August month high and the upward momentum is shifted towards downwards as the risk aversion creeps in the market. The vaccine hopes supported the risk proxy for the past two months.
The vaccine trial was put on hold by Astrazenca pharma company due to the some side effects caused by the unapproved vaccine and in many other countries are conducting the trials on side by side
The number of coronavirus cases are surging everyday around the world. Even in Europe and in England the COVID-19 cases are rising the the government is preparing for the fresh lockdown measures. And the political developments around the world will cause the demand for safe heaven assets
The healthy relationship between the government of Australia and People republic of china as both sides are preparing for fresh sanctions against each other on particular imports such as wine and beef. Though the industrial activity in china is back to the pre pandemic level this will support the Australian dollar too. But the deteriorating relationship between two countries will make the AUD less attractive
The Japanese PM has resigned on the health grounds and the Newly elected PM Suga said that they will follow the abonomics in coming days. Which in turn will support the buying of Japanese yen
The AUDJPY is the perfect pair to measure the current risk sentiment of the market. The price has felled around 4.1% from August high. If the price reached the 78.6% then it might lose around 6% from the August high level
Currently AUDJPY is trading below the 50% Fibonacci retracement level. And below the 76.000 level
The lower trend line which is holding this pair since 12 June was broken. Ichimoku clouds is pointing towards south
On Elliot wave principal Currently 3rd wave is forming the we are expecting that this wave will end at 73.800 level which is a 78.6% Fibonacci level
The price has felled below the 50,100,200 EMA. RIS has reached 20 level which indicates the minor rebound towards 50% Fibonacci level. MACD is turned red
Please give us a thumbs up if u like our work and do follow us so that you can get a regular update about upcoming setups and ideas
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