{"id":53351,"date":"2014-06-26T11:50:23","date_gmt":"2014-06-26T15:50:23","guid":{"rendered":"http:\/\/countingpips.com\/?p=53351"},"modified":"2014-06-26T11:50:23","modified_gmt":"2014-06-26T15:50:23","slug":"audjpy-turns-to-lower-levels-in-predictable-fashion","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2014\/06\/audjpy-turns-to-lower-levels-in-predictable-fashion\/","title":{"rendered":"AUD\/JPY Turns to Lower Levels in Predictable Fashion"},"content":{"rendered":"<div id=\"inves-51011655\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">June 26, 2014<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p>Technical Sentiment: <span style=\"color: #ff0000;\"><strong>Bearish<\/strong><\/span><\/p>\n<p><strong>Key Takeaways<\/strong><\/p>\n<ul>\n<li>AUD\/JPY tests broken support trendline and rejects, ending the bullish correction;<\/li>\n<li>Short term Lower High confirms bearish bias;<\/li>\n<li>Short traders aim for 95.10\/20 and below.<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><em>AUD\/JPY exhibits a decent sell opportunity as a trendline rejection and the recent bearish swing configuration are respected by the market to the pip. A continuation below 95.15, the current target for sellers, will mark the beginning of an even larger bearish swing.<\/em><\/p>\n<p>&nbsp;<\/p>\n<p><strong>Technical Analysis<\/strong><\/p>\n<p><a href=\"http:\/\/capitaltrustmarkets.com\/wp-content\/uploads\/2014\/06\/AUDJPY-26th-June.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-4557\" src=\"http:\/\/capitaltrustmarkets.com\/wp-content\/uploads\/2014\/06\/AUDJPY-26th-June.png\" alt=\"AUDJPY 26th June\" width=\"700\" height=\"343\" \/><\/a><\/p>\n<p style=\"text-align: justify;\">Recent price action indicates the bullish rally from 93 to 96 has not only slowed down, but it is also reversing. The first weakness was identified after a false break above the resistance at 96.10, immediately followed by price dropping below the support trendline. In a very predictable manner, AUD\/JPY has re-tested the trendline, formed a short term Lower High and it is now building further bearish momentum.<\/p>\n<p style=\"text-align: justify;\">The main support level area is formed around 95.06 (38.2% Fibonacci Retracement level between 93.03 and 96.31) up to 95.20 (17<sup>th<\/sup> June low). In-between, the 200 Simple Moving Average on the 4H time frame further confirms this area as the separation line between bullish and bearish territory. A break below the support cluster will accelerate losses towards 94.30; a pivot zone from May coupled with 61.8% Retracement level.<\/p><div id=\"inves-2030046486\" class=\"inves-in-content inves-entity-placement\"><hr style=\"border: 1px solid #ddd;\">\r\n<div id=\"inpost_ads_header\">\r\n<p style=\"font-size:10px; float:left; color:#666;\">Free Reports:<\/p><\/div>\r\n<div id=\"inpost_ads\"> \r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/1ApBOV\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2018\/06\/graph_techs_PD.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t     <a href=\"https:\/\/goo.gl\/1ApBOV\"><b><u>Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p><br><br>\r\n<br>\r\n<br>\r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/f3RrHX\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2019\/01\/cot_pie_80.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t    <a href=\"https:\/\/goo.gl\/f3RrHX\"><b><u>Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p><br><br>\r\n<\/div>\r\n<hr style=\"border: 1px solid #ddd;\">\r\n<br><\/div>\n<p style=\"text-align: justify;\">The secondary scenario entails a bounce off the support cluster. In this case AUD\/JPY should be viewed as range-bound between 95.10 and 96.10. Waiting for a break-out outside these boundaries remains the preferred trading strategy considering the size of the range.<\/p>\n<p>*********<\/p>\n<p><em>Prepared by Alex Z., Chief Currency Strategist at <\/em><a href=\"http:\/\/www.capitaltrustmarkets.com\/\"><em>Capital Trust Markets<\/em><\/a><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Technical Sentiment: Bearish Key Takeaways AUD\/JPY tests broken support trendline and rejects, ending the bullish correction; Short term Lower High confirms bearish bias; Short traders aim for 95.10\/20 and below. AUD\/JPY exhibits a decent sell opportunity as a trendline rejection and the recent bearish swing configuration are respected by the market to the pip. A [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-53351","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/53351","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=53351"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/53351\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=53351"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=53351"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=53351"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}