Chart of the Day – AUDJPY – (July 11th 2019)
A setup is simply “a setup.” For now, the AUDJPY trend is down, but the reversal pattern is developing in the AUDJPY.
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Chart of the Day -AUDJPY- (May 6th 2019)
Ahead of the RBA decision tonight the AUDJPY has broken key support as the China/US trade negotiations apparently are strained.
Chart of the Day -AUDJPY- (April 16th 2019)
The AUDJPY broke out of the 2019 range and into new yearly highs last week. As long as we remain above the 79.80 level the risk remains to the upside.
Chart of the Day -AUDJPY- (Feb 6th 2019)
The AUDJPY fell aggressively overnight to channel support following RBA Governor Lowe’s comments about the path of the next rate move would be.
Chart of the Day -AUDJPY- (Jan. 17th 2019)
The AUDJPY spiked past resistance and tagged the 61.8% key Fibonacci retracement and also the channel resistance.
Chart of the Day -AUDJPY- (Dec. 3rd 2018)
The AUDJPY broke higher above the 38% retracement and now targets the 61.8% retracement near 85.50 with a bull flag formation supporting the move higher.
JPY crosses: Where to now?
The Yen has been consolidating in price since 2016, following two major moves since the global financial crisis. The 4-year bear move from 2008 till 2012 saw the USDJPY drop from 123 to roughly 75, nearly 40% lower.