AUD/JPY: Key resistance at 8440/70

Jason Sen DayTradeIdeas.co.uk

AUD/USD, NZD/USD, AUD/JPY

AUDUSD bottomed exactly at best support for the day at 7720/10 to hit the first target of 7750/60.

NZDUSD bottomed exactly at best support at 7160/50 & topped exactly at first resistance at 7210/20.

AUDJPY held first support at 8450/40 to top 5 pips from the target of 8490/8500.

Daily analysis

AUDUSD best support at 7710/00 again today. Longs need stops below 7685. A break lower targets 7670, perhaps as far as 7645/40.

Holding 7710/00 targets first resistance at 7760/70. Above 7770 signals further gains to 7790 before a retest of key resistance at 7800/10. A break above 7820 opens the door to the March high at 7848/50.

NZDUSD best support at 7160/50 today. Longs need stops below 7135. A break lower to target 7105/00.

Longs at 7160/50 target 7180 & first resistance at 7210/20. Above here can target 7235/40. Strong 500 week moving average resistance at 7305/25. Shorts need stops above 7345.

AUDJPY holding below 500 week plus 200 & 100 month moving average resistance at 8440/70 is negative for this week. First support at 8395/85 but below 8375 targets 8355/45, perhaps as far as support at 8310/00.

Key resistance at 8440/70. Shorts need stops above 8510. A break higher this week targets the March high at 8534/45.

Chart

Author

Jason Sen

DayTradeIdeas.co.uk

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