AUD/JPY Is Bearish, Watch For Yen Strength

AUD/JPY Technical Analysis

  • AUD/JPY is bearish
  • Clear rejection below M L3
  • Q H3 should be the target
  • Connected to equities

  1. Resistance level pinbar
  2. Low
  3. High
  4. Bearish rejection

The price is bearish. When its risk-on environment, Commodities prices tend to increase, and traders go long AUD due to that factor. When commodities prices go up, Stock Markets go up and there is demand for positive swaps on AUD pairs currently as opposed to JPY. When its a risk-off environment, usually the opposite occurs, and as a result, the JPY appreciates as foreign flows from Japan are repatriated back to their local currency. At this point we can see that the market is rejecting. 83.70 is the zone for short trades. Targets are 82.38 and 82.24.

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Cheers and safe trading,

Nenad

 

Published by

Nenad Kerkez

Nenad Kerkez is an analyst and trader who has been in the market since 2008 and works closely with Admiral Markets as their Senior Lecturer and Market Analyst. Nenad covers over 25 currencies on an intraday basis and has a Masters in economics. He also developed CAMMACD TM, a proprietary trading and analysis strategy wit ever powerful pre fact setups that you can read every day. Nenad is also a valuable presenter on various FX EXPO shows, where he always presents new and interesting ways how to trade price action and protect your own investments. Further, he is the co-founder and head of Elite Currensea Trading, an educational website for currency traders.