{"id":24864,"date":"2011-11-01T08:00:51","date_gmt":"2011-11-01T12:00:51","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=24864"},"modified":"2011-11-01T08:00:51","modified_gmt":"2011-11-01T12:00:51","slug":"audjpy-rejects-resistance-and-61-8","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/11\/01\/audjpy-rejects-resistance-and-61-8\/","title":{"rendered":"AUD\/JPY rejects resistance and 61.8%"},"content":{"rendered":"<p><strong>AUD\/JPY \u2013 Daily outlook 01 November 2011<\/strong><\/p>\n<p>The BOJ\u2019s intervention early Monday saw the Yen finally coming back to life; however after initial volatility the markets did show signs of slowing back down. We saw the AUD\/JPY pushing through its upper resistance at the 83.00 area in early trading only to reverse and close below resistance at the end of the NY Session.<\/p>\n<p>With the pair showing signs of rejecting its resistance we could see the market falling in the coming days\/weeks.<\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: center;\"><img decoding=\"async\" src=\"http:\/\/www.vantage-fx.com\/images\/stories\/audjpydailyoutlook01nov.gif\" alt=\"audjpydailyoutlook01nov\" width=\"500\" \/><\/p>\n<p style=\"text-align: center;\">\n<p>The strength of the resistance area is further confirmed by a 61.8 Fibonacci retracement level at 83.15. Taking the highest swing high and lowest swing low from this year we can see the market has retraced 61.8% of this swing and yesterday has showed signs of rejecting this level.<\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: center;\"><img decoding=\"async\" src=\"http:\/\/www.vantage-fx.com\/images\/stories\/audjpydailyoutlookfibs01nov.gif\" alt=\"audjpydailyoutlookfibs01nov\" width=\"500\" \/><\/p>\n<p style=\"text-align: center;\">\n<p style=\"text-align: left;\">With the strong resistance of both the price and 61.8% Fib retracement the strength of the 83.00 area should not be disregarded as the market has potential to show further rejection and ultimately a push back lower. We will be looking for price action signals to go short at this area with an initial target of 80.00 or lower.<\/p>\n<p style=\"text-align: left;\"><a href=\"http:\/\/www.vantage-fx.com\" target=\"_blank\"><strong><span style=\"text-decoration: underline;\">By vantage-fx.com<\/span><\/strong><\/a><\/p>\n<p style=\"text-align: left;\">\n","protected":false},"excerpt":{"rendered":"<p>The BOJ\u2019s intervention early Monday saw the Yen finally coming back to life; however after initial volatility the markets did show signs of slowing back down. We saw the AUD\/JPY pushing through its upper resistance at the 83.00 area in early trading only to reverse and close below resistance at the end of the NY Session.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-24864","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/24864","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=24864"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/24864\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=24864"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=24864"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=24864"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}