Australian Dollar FX Empire

AUD/JPY Uptrend Continues

AUD/JPY Technical Analysis

  • Bullish uptrend formation
  • Double top has been broken
  • We should continue higher
  • 94.50 then 95.30
  • Ascending trend line

MEGATREND MAs: Bullish

AUD/JPY Price Forecast

H1 Chart AUD/JPY
  1. Double top point 1
  2. Low
  3. Double top point 2
  4. Final target

The AUD/JPY is moving higher and the price is breaking above the double top. We should see a continuation of the move up as the price is bullish. At this point the first resistance is 94.50 and if it breaks the high we will see 94.70 and 94.35. The yen is weakening vs AUD. When the yen weakens we can assume the 100% risk off sentiment might happen. It means:

1.Gold down

2.Commodities prices up

4.Equities up

5.Yen weakens as a result

It happens also because the Japs pump their money overseas, which means they sell Yen and buy foreign currency. During risk the Japs can get cheap credit, so they invest overseas heavily so when it’s risky, they bring the money back creating demand for Yen.

This analysis is a part of the Megatrend trading course. I have 1 long position that I will maintain. The intraday target is 94.50 while the intraweek target is 95.30. There is no swing target yet .

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.