AUD/JPY : Daily Signal And Analysis from Instaforex

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Currency
Rates
EUR / USD
1.21745
USD / JPY
103.784
GBP / USD
1.36816
USD / CHF
0.88523
USD / CAD
1.27337
EUR / JPY
126.353
AUD / USD
0.77165

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InstaForexRebat

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AUD/JPY testing major resistance, prepare to sell

Price is now testing a major level of resistance at 84.88 (Multiple fibonacci extensions) and we expect a strong reaction from here for a drop to at least 83.90 (Fibonacci retracement, horizontal pullback support).

Stochastic (34,5,3) is seeing strong resistance below 90% where we expect a drop from.

Sell below 84.88. Stop loss at 85.41. Take profit at 83.90.



Read more: https://www.instaforex.com/forex_analysis/93180
 
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AUD/JPY approaching major support, prepare to buy

Price is approaching major support at 85.60 (Fibonacci retracement, horizontal swing low support, Fibonacci extension) and we look to buy on weakness at this level for a bounce to at least 86.97 resistance (Fibonacci extension, horizontal swing high resistance).

Stochastic (34,5,3) is seeing strong support above 7% which stochastic is fast approaching.

Buy above 85.60. Stop loss at 84.88. Take profit at 86.97

 

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Is AUD/JPY going to take off? | Daily Forex Technical Analysis | 6th July 2017


Has AUD/JPY formed a nice bullish reversal pattern? I think it looks all set to take off from here!
 

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AUD/JPY bounced up perfectly and approaching profit target, prepare to sell

AUD/JPY bounced up perfectly and approaching profit target, prepare to sell

Stochastic (34,5,3) is seeing strong resistance below 98% and we expect a drop from this level.

Sell below 86.97. Stop loss at 87.70. Take profit at 85.74.

 

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AUD/JPY testing major resistance, remain bearish

Price has slowly crept up towards our selling area and we expect to see a drop on it soon. We remain bearish looking to sell below 86.97 resistance (Fibonacci extension, horizontal swing high resistance, Elliott wave theory, bearish divergence) for a drop down towards 85.74 support (Fibonacci retracement, horizontal swing low support).

Stochastic (34,5,3) is seeing strong resistance below 98% and we expect a drop below this level.

We can also see bearish divergence has been formed vs price which signals that a drop is impending.

Sell below 86.97. Stop loss at 87.71. Take profit at 85.74.

 

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AUD/JPY approaching major resistance, prepare to sell

The price is approaching major resistance at 88.26 (Fibonacci extension, Elliott wave theory) and we expect to see a reaction of this level for a drop to at least 87.27 support (Fibonacci retracement, horizontal pull back support).

Stochastic (34,5,3) has been testing out 98% resistance for quite some time and we expect a drop on it soon.

Correlation analysis: AUD weakness is expected today with AUDUSD similarly testing major resistance and expecting a drop.

Sell below 88.26. Stop loss is at 88.68. Take profit is at 87.27.

 

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AUD/JPY dropping perfectly as expected, remain bullish for a further drop

The price has reached our selling area and reacted off it perfectly. We remain bearish looking to sell on strength below major resistance at 88.26 (Fibonacci extension, Elliott wave theory) for a continued drop to at least 87.27 support (Fibonacci retracement, horizontal pullback support).

Stochastic (34,5,3) has started dropping from our 98% resistance nicely.

Correlation analysis: AUD weakness is expected today with AUDUSD similarly testing major resistance and expecting a drop.

Sell below 88.26. Stop loss is at 88.68. Take profit is at 87.27.

 

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AUD/JPY continues to test resistance, remain bearish

The price continues to test major resistance at 89.11 (Fibonacci extension, swing high resistance) and we expect to see a reaction off this level for a drop to at least 87.52 support (Fibonacci retracement, horizontal swing low support).

Stochastic (34,5,3) continues to test our 98% resistance where we expect a drop from.

Sell below 89.11. Stop loss is at 87.52. Take profit is at 89.61.

 

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AUD/JPY profit target reached perfectly, remain bearish for a further drop

The price has dropped perfectly from our selling area and has reached our profit target. We remain bearish looking to sell below 88.15 resistance (Fibonacci retracement, horizontal overlap resistance) for a further drop towards 87.52 support (Fibonacci extension, Fibonacci retracement, horizontal swing low support).

RSI (34) sees long term resistance holding price momentum down which helps us keep our bearish bias.

Sell below 88.15. Stop loss is at 88.60. Take profit is at 87.52.

 

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Overview of the currency pair AUD / JPY with the current day forecast

The result of the annual price rise of the Australian dollar / Japanese yen cross was the price contact with a potential reversal zone. In its borders, there are several levels of resistance of different scale, including the largest one. Given the corrective nature of the rising wave and the completeness of the structure, its end can be expected in the coming weeks. The price decrease, which began last week, demonstrated a rather high potential. There is a great chance that this forms the first part of the reversal model. The swing stroke down design is close to exhaustion. Today, it is expected to form a reversal and the beginning of an upward price movement. The growth phase is more likely at the end of the day or tomorrow.

Boundaries of the resistance zone:

- 88.60 / 90

Boundaries of the support zone:

- 87.80 / 50



Explanations to the figures: For simplified wave analysis, a simple type of wave is used that combines 3 parts (A; B; C). Of such waves, all kinds of correction are composed and most of the impulses. On each considered time-frame the last, incomplete wave is analyzed. The zones marked on the graphs are indicated by the calculation areas in which the probability of a change in the direction of motion is significantly increased. Arrows indicate the wave counting according to the technique used by the author. The solid background of the arrows indicates the structure formed, the dotted line indicates the expected wave motion. Note: The wave algorithm does not take into account the duration of the tool movements in time. The forecast is not a trading signal! To conduct a transaction, you need to confirm the signals used by your trading systems.
 
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