{"id":59092,"date":"2014-08-21T08:34:53","date_gmt":"2014-08-21T12:34:53","guid":{"rendered":"http:\/\/countingpips.com\/?p=59092"},"modified":"2014-08-21T09:09:56","modified_gmt":"2014-08-21T13:09:56","slug":"jpy-weakness-keeps-audjpy-near-yearly-highs","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2014\/08\/jpy-weakness-keeps-audjpy-near-yearly-highs\/","title":{"rendered":"JPY Weakness Keeps AUD\/JPY Near Yearly Highs"},"content":{"rendered":"<div id=\"inves-2356000037\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">August 21, 2014<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p>Technical Sentiment: <span style=\"color: #008000;\"><strong>Bullish<\/strong><\/span><\/p>\n<p><strong>Key Takeaways<\/strong><\/p>\n<ul>\n<li>Yen is weakening across the board against most major pairs;<\/li>\n<li>AUD\/JPY, within several pips of Daily resistance, does not seem to be backing down yet;<\/li>\n<li>A bullish break could expand the limits of the trading range.<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><em>Buyers appear reluctant to release AUD\/JPY from their stronghold, lifting the pair yet again after yesterday\u2019s resistance test. Despite overbought conditions, a bullish break seems very likely in the near future.<\/em><\/p>\n<p>&nbsp;<\/p>\n<p><strong>Technical Analysis<\/strong><\/p>\n<p><a href=\"http:\/\/capitaltrustmarkets.com\/wp-content\/uploads\/2014\/08\/AUDJPY-21st-August.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-5882\" src=\"http:\/\/capitaltrustmarkets.com\/wp-content\/uploads\/2014\/08\/AUDJPY-21st-August.png\" alt=\"AUDJPY 21st August\" width=\"700\" height=\"343\" \/><\/a><\/p>\n<p style=\"text-align: justify;\">Less than two weeks ago AUD\/JPY was looking progressively bearish, just one signal away from confirming a long term downtrend, until the sell-off quickly reversed near the 200-Day Simple Moving Average with a Bullish Pin Bar. Since then it has been a buyers\u2019 market with practically zero corrections from bottom to the current top. Stochastic shows overbought conditions on both 4H and Daily time frames, indicating a top should form soon; however what this scenario lacks is price action confirmation.<\/p>\n<p style=\"text-align: justify;\">Hopefully Thursday\u2019s Daily close will offer a few clues concerning this interesting predicament. Lacking any major economic triggers directly affecting AUD\/JPY, technical traders have the upper hand for now. A daily close above 96.50 confirms intentions for a Higher High to be priced in. 97.40\/60 is the first candidate for a HH, although bullish potential extends even further up, towards 98.80 and ultimately 100.00 for long term targets.<\/p><div id=\"inves-2959081587\" 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;\">If AUD\/JPY fails to close above 96.50 on Thursday or Friday, preferably aided by a large bearish price action signal, we can begin aiming for the nearest support levels. Between 95.30 and 95.50, the 50-Day and 100-Day Moving Averages caused a temporary pause in the uptrend, so we can expect this area to be a strong attraction point for sellers on the way down.<\/p>\n<p>*********<br \/>\nPrepared by Alex Z., Chief Currency Strategist at <a href=\"http:\/\/www.capitaltrustmarkets.com\/\">Capital Trust Markets<\/a><\/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: Bullish Key Takeaways Yen is weakening across the board against most major pairs; AUD\/JPY, within several pips of Daily resistance, does not seem to be backing down yet; A bullish break could expand the limits of the trading range. Buyers appear reluctant to release AUD\/JPY from their stronghold, lifting the pair yet again [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-59092","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/59092","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\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=59092"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/59092\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=59092"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=59092"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=59092"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}