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FOREX Technical Analysis: AUDJPY Bearish Bias Warranted against High  Join our daily free Newsletter

MENAFN - DailyFX - 12/11/2012

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Afternoon Technicals (all charts)

Other TA (crosses, COT, etc.)

FOREX Trading and Technical Analysis Observations

AUDJPY-formed a JS Spike on the weekly and once again failed to close the week above the 61.8% retracement of the decline from the March high. Last week was the 6th week since June that price traded above the Fibonacci level but failed to close above it. The level is clearly one of importance. Near term resistance is 8328.

CADJPY-failed its 6th attempt since September to close the week above Fibonacci resistance. Price also formed a JS Spike on the weekly. CADJPY weakness from the top displays the cleanest impulsive behavior of any Yen cross decline. Resistance is expected this we at 8025/40.

EURJPY-is holding the 38.2% retracement of the rally from the July low. 10015/19 is also potential support. 10214 is now resistance.

AUDJPY – Weekly Bars

FOREX_Trading_AUDJPY_Bearish_Bias_body_audjpy.png, FOREX Technical Analysis: AUDJPY Bearish Bias Warranted against High

Prepared by Jamie Saettele, CMT

EURJPY – Daily Bars

FOREX_Trading_AUDJPY_Bearish_Bias_body_EURJPY.png, FOREX Technical Analysis: AUDJPY Bearish Bias Warranted against High

Prepared by Jamie Saettele, CMT

CADJPY – Weekly Bars

FOREX_Trading_AUDJPY_Bearish_Bias_body_cadjpy.png, FOREX Technical Analysis: AUDJPY Bearish Bias Warranted against High

Prepared by Jamie Saettele, CMT

To contact Jamie e-mail jsaettele@dailyfx.com. Follow me on Twitter for real time updates @JamieSaettele

Subscribe to Jamie Saettele's distribution list in order to receive actionable FX trading strategy delivered to your inbox once a day.

Jamie is the author of Sentiment in the Forex Market.


 






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