USD/JPY, AUD/JPY. Will Momentum Pick up Again?

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Japanese Yen, USD/JPY, AUD/JPY – Talking Points

  • USD/JPY made a 6-year excessive final month and would possibly achieve momentum to climb once more
  • AUD/JPY pulled again from its’ January peak and seems to lack path
  • JPY seems to have completely different paths in opposition to AUD and USD. Will Yen weaken?

USD/JPY – Technical Analysis

USD/JPY is rallying towards a descending pattern line which is just under the pivot level resistance stage at 115.505.

A break above there may see the resistance ranges of 115.685 and 116.353 examined. Both of those ranges are earlier highs.

In December 2016, USD/JPY made a excessive at 118.665, which can additionally present preliminary resistance ought to or not it’s examined once more.

A bullish triple transferring common (TMA) formation requires the worth to be above the brief time period easy transferring common (SMA), the latter to be above the medium time period SMA and the medium time period SMA to be above the long run SMA. All SMAs additionally must have a constructive gradient.

The value has lately moved above the 10-day SMA, and all of the circumstances have been met, excluding the gradient of the 21-day SMA.

If the worth closes above 115.00 for the subsequent two days, the gradient of the 21-day SMA will flip constructive, making a bullish TMA formation.

On the draw back, help may very well be on the earlier lows and pivot factors of 114.161, 113.483, 113.223, 113.142, 112.533, 112.079, 110.802, 109.113 and 108.723.

Chart created in TradingView

AUD/JPY – Technical Analysis

AUD/JPY has lately been consolidating round quite a few completely different time-frame easy transferring commons (SMA). This may point out an absence of directional momentum for the second.

Resistance may very well be on the previous highs of 82.284, 82.970 and 83.747and 84.324. The long run 100 and 260-day SMAs are at the moment sitting between the primary 2 resistance ranges and may additionally supply resistance.

Close by, the 21 and 55-day SMAs would possibly supply resistance, at the moment at 81.965 and 81.903 respectively.

AUD/JPY bounced off the late January low of 80.369, which was simply above the December low of 80.275. These ranges are potential help as effectively as the pivot factors of 80.699 and 78.846. The earlier lows at 79.790 and 77.897 are additionally potential help.


Chart created in TradingView

— Written by Daniel McCarthy, Strategist for

To contact Daniel, use the feedback part beneath or @DanMcCathyFX on Twitter

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