25 JUN 2018
Yen strength continues to amaze. Not only versus USD, but especially versus virtually all major and secondary currencies the Yen shows long-term and near-term outperformance.
Versus Aussie the outlook is strong on all time frames. Sellers are pushing for a breakout below the pivots around 80.60. We expect a move beyond these levels over the coming days, followed by a further rout towards 75.88 (minor projection) and 70.64 (major projection). Note that indicators remain firmly in the red without divergence or other possible reversal signals.
- Near term trend: negative
- Long term trend: negative
- Outlook: relentless down trend
- Strategy: hold-short or short-entry
- Support: 80.60 / 75.88* / 70.64-
- Resistance: 82.30 / 82.80 / 84.40+
- Outlook cancelled/neutralized above 82.30
420-minute intraday chart AUD/JPY