AUD/JPY Update

7

The near term looks very strong with good upside. Buying is justifiable with stops below 82.35 despite the mediocre longer term outlook. Note that JPY weakness is growing across the board, further supporting an aggressive long-entry strategy for AUD/JPY.

For the longer term the outlook remains questionable for the time being.

  • Near term trend: positive
  • Long term trend: neutral/negative
  • Outlook:┬ánew uptrend, positive
  • Strategy: long-entry
  • Support: 82.35 / 81.20
  • Resistance: 54.65 / 86.75+
  • Outlook cancelled/neutralized below 82.35

420-minute intraday chart AUD/JPY