AUDJPY Weekly Trend Remains Down, Strong Resistance Levels At 84.00, 84.50, & 85.00

  • Duncan Cooper , Senior Market Strategist & Trading Mentor at ACY Securities

  • 29.06.2021 08:00 am
  • trading

Overview:

Watch the video for a summary of today’s news releases, a review of the AUDUSD, and a complete Top Down Analysis of the AUDJPY.

AUDJPY Monthly:

Monthly support at 78.46, resistance at 84.53.

Over the last 5 months price has been testing and rejecting monthly resistance at 84.53. Price has had a month down this month and the 85.00 level remains strong resistance for this pair. Monthly trend remains up but the lower time frames have changed their trend to down.

 

 

AUDJPY Weekly:

Weekly support at 82.28, resistance at 83.97 and 85.18.

Price is in a downtrend showing a lower top and lower bottom. MACD has shown negative divergence confirming the change in trend. Last week price had a positive week and we may have a further rally this week.

 

 

AUDJPY Daily:

Daily support at 82.12, resistance at 84.30, 84.38, and 85.04.

Price is in a downtrend showing a lower top and lower bottom and is currently rallying back to old daily resistance levels. Following this week’s news releases watch for price to spike higher. Price failing between 84.00 - 84.50 would present an ideal opportunity to sell at a strong resistance area for the next decline.

Long term target for the next decline would be monthly support at 78.46.

 

 

 

 

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