AUDJPY runs into sellers again around 80.71

Australian Dollar/Japanese Yen (AUDJPY) Technical Analysis Report for Sep 14, 2018

Highlights

AUDJPY breaks below 20-day moving average
AUDJPY unable to break through key resistance level
AUDJPY ends the day on a bearish note closing near the low of the day
AUDJPY runs into sellers again around 80.71
AUDJPY closes within previous day's range after lackluster session

TQ Sentiment

Report Sentiment: 50% Bearish
Technical Forecast:

Overview

AUDJPY ended the week 1.62% higher at 80.16 after losing 33 pips (-0.41%) today. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range in a lackluster session. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily chart for AUDJPY

Volatility

Friday's trading range was 63 pips (0.78%), that's below last trading month's daily average range of 78 pips. Things look different on a weekly scale, where volatility is above the markets average with the monthly volatility being slightly below average.

Price Action

During the whole day, prices traded within the previous day's range, unable to trade above the prior day's high or below the previous day's low forming an Inside Bar.

Support/Resistance

Prices are trading close to a key support level at 79.71. Unable to break through the key technical resistance level at 80.57, the forex pair closed below it after spiking as high as 80.71 during the day. The failure to close above the resistance might increase that levels importance as resistance going forward. After having been unable to move above 80.81 in the prior session, the FX pair ran into sellers again around the same price level today, failing to move higher than 80.71.

Trend

Although the currency is experiencing a short-term up trend, this could just be a correction, as both the medium and long term trends are still in negative territory. The market broke below the 20-day moving average at 80.43 today for the first time since August 30th.

Order Flow

Buying might accelerate should prices move above the nearby swing high at 80.81 where further buy stops could get activated.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for Australian Dollar/Japanese Yen

Loading Market Conditions for $AUDJPY (Australian Dollar/Japanese Yen)...
Looking for JPYAUD instead? Click here
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when Australian Dollar/Japanese Yen traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Find out more
Top Market Movers

Related Currencies

CADJPY 10 day candlestick chart for CADJPY 87.17 0.00 (0.00%)
CHFJPY 10 day candlestick chart for CHFJPY 117.45 0.14 (0.12%)
EURAUD 10 day candlestick chart for EURAUD 1.6120 -0.0032 (-0.20%)
EURCAD 10 day candlestick chart for EURCAD 1.5175 -0.0022 (-0.14%)
EURCHF 10 day candlestick chart for EURCHF 1.1262 -0.0032 (-0.28%)
EURGBP 10 day candlestick chart for EURGBP 0.8983 0.0107 (1.21%)
EURJPY 10 day candlestick chart for EURJPY 132.27 -0.21 (-0.16%)
GBPAUD 10 day candlestick chart for GBPAUD 1.7934 -0.0264 (-1.45%)
GBPCAD 10 day candlestick chart for GBPCAD 1.6888 -0.0235 (-1.37%)
GBPCHF 10 day candlestick chart for GBPCHF 1.2535 -0.0190 (-1.49%)
You have free reports remaining. Subscribe for unlimited access...SUBSCRIBELOGINGO!