WorldWideMarkets Community

Forex Trading, Market News & Technical Analysis

Aud/Yen Technical Analysis

Posted by Joseph Trevisani on Mar 19, 2013 6:27:00 PM



Recent Topside Failure A Concern

RES 4: Jpy104.5 - 2008 high Jul 21
RES 3: Jpy100.7 - High Aug 5 2008
RES 2: Jpy100.0 - Psychological Resistance
RES 1: Jpy99.96 - 2013 high Mar 14

PRICE: 98.62 at 6:30 pm ET 1: Jpy97.60 - Low Mar 18
SUP 2: Jpy96.84 - 21 day moving average
SUP 3: Jpy94.45 - Low Mar 1
SUP 4: Jpy92.50 - Low Jan 16

COMMENTARY: Failure by the AUD/JPY to retest the recent highs and again ahead of
the psychological resistance level is seeing pressure return to initial support.
A close below remains needed to relieve the bullish focus and see focus turn to
retests of the key Jan 16 lows around Jpy92.50. Topside the Jpy100.00 level
remains key with a close above then shifting focus to trading within a
Jpy100-105 range.

 

Tools & Educational Resources

Forex 101LEARN MORE >>
Learn the basics of Forex and how to practice trading the markets.

GlossaryLEARN MORE >>
Confused by the language? Click here and search for key trading terms.

FAQ CenterLEARN MORE >>
Browse our frequently asked questions and find your answers right away.

VideosLEARN MORE >>
Access to the educational lessons, webinars and platform walkthroughs.

READY TO TRY THE MARKETS?

Get started with a FREE $10,000 Demo Account and experience the Forex Market RISK FREE!