he Aussie-Yen pair remains one of the better gauges of risk-appetite in the market. The Australian Dollar and the Japanese Yen represent opposite sentiment in terms tolerance for interest rates:
Printable View
he Aussie-Yen pair remains one of the better gauges of risk-appetite in the market. The Australian Dollar and the Japanese Yen represent opposite sentiment in terms tolerance for interest rates:
The pair is moved down to test the support on 84.72
if this is breaked we can see the pair move down
if this support is not breaked we can see the pair move up to test the 1st resistance on 85.12
The AUD/USD could not rally under the pressure of a sinking AUD/JPY however, and it lost over 50 pips to current levels near 1.0960
Markets will remain vigilant for news out of the US on any progress on the debt ceiling talks as the August 2nd deadline rapidly approaches. In the nearer future, tomorrow brings the New Zealand RBNZ rate decision which should remain unchanged at 2.50%.
Intraday trade:
If a M15 close above 83.61 buy only and do not sell. If price closes back below it again do nothing.
If a M15 close below 83.03 sell only and do not buy. If price closes back above it again do nothing
The range 83.61 and 83.03 is neutral area, any trade done in between is personal decision and not part of this analysis
There is bearish potential for a fall to 84.24 - 83.60 while 84.89 - 85.44 resist. After this fall a recovery up to 85.44 or 85.99 is expected.
Supports / Resistances
Res 2 87.2800
Res 1 85.9900
Pivot 84.8900
Sup 1 83.6000
Sup 2 82.5000
As we can see the price is near from 50 fibo with the down line of the down channel with the oversold on Stochastic ... So what about buy ???
The Australian Dollar started to exhibit weakness against the USD just a few days ago, but in relation to the Japanese Yen, it has been sliding for some time. We can see that the most recent major high was at 90.02, established in April and it has been down from there for the AUD/JPY.
Intraday trade:
If a M15 close above 82.95 buy only and do not sell. If price closes back below it again do nothing.
If a M15 close below 82.26 sell only and do not buy. If price closes back above it again do nothing
The range 82.95 and 82.26 is neutral area, any trade done in between is personal decision and not part of this analysis
A short selling position at 83.00 with a stop-loss at 83.45 (-45 pips) and take profit target first at 82.55 (+45 pips) and then 82.40 (+60 pips).