AUD/JPY targets R3 with neutral daily RSI

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 22, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Guatemala) - AUD/JPY has been pulled up on both USD/JPY and AUD/USD making tracks on a better risk-mood and the yuan a neutral fix again.

    The Aussie managed to reverse the downside of the double top in the US shift and spiked through the 200 sma on the hourly chart in a significant move considering that the major commodity currency has been suppressed by the ma since the start of the Chinese crisis in 2016.

    The 0.7020 level was sighted as a key resistance where the major struggles currently and leaves the cross exposed to the downside should fundamental factors play their own part next week with the FOMC and BoJ up next week. USD/JPY has also made its ground at the end of this week while bets are coming to the table that the BoJ will carry out on its intent to hit the 2% target in the given time frame and potential ease at this meeting around adding support to the upside of the cross although dovishness from the FOMC who might not be in a position to hike again would have he dollar on the back foot again.

    AUD/JPY levels

    Technically, AUD/JPY has met supply at 82.79 highs after the rally through the 200 1hr sma at 81.46. RSI on the 1hr has room to go on the upside and daily is neutral still with R1 at 83.33 in the pair's sights.
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