Indicator Value Signal
MACD   Sell
RSI   Buy
MA(200)   Buy
Parabolic SAR   Buy
Bollinger Bands   Buy

 

Chart Analysis

IFC Markets Tech Analysis

The AUDJPY is in a rising channel above the 200-day moving average line. Some indicators have formed buy signals. The bullish momentum may continue in case AUDJPY exceeds the last fractal high and the upper Bollinger band at 76.9. This level may serve as an entry point. The initial stop loss may be placed below the last fractal low, the lower Bollinger band and the Parabolic signal at 73.7. After opening the pending order, we shall move the stop to the next fractal low following the Bollinger and Parabolic signals. Thus, we are changing the potential profit/loss to the breakeven point. More risk-averse traders may switch to the 4-hour chart after the trade and place there a stop loss moving it in the direction of the trade. If the price meets the stop level (73.7) without reaching the order (76.9), we recommend closing the position: the market sustains internal changes that were not taken into account.

 

Fundamental Analysis

The US and China signed the phase one trade deal. Will the AUDJPY rise?

Such dynamics are observed in case of the strengthening of the Australian dollar and weakening of the Japanese yen. China is the main trading partner of Australia and the main economic competitor of Japan. The signing of the agreement with the United States may strengthen the Chinese economy, which, in turn, may support the Australian dollar. An additional positive factor for it may be rainy weather in eastern Australia, which reduced the area of bushfires. Important labor market data for December, as well as 3 PMI indices (industrial, composite and service industries), will be released next week in Australia. The strengthening of China and risk reduction in Southeast Asia are rather negative factors for the yen. The Bank of Japan meeting will take place on January 2. No rate changes are expected. In addition, later next week, data on foreign trade and inflation for December will be released in Japan. Preliminary forecasts are negative.

 


 

Want to get more free analytics? Open Demo Account now to get daily news and analytical materials.

This overview has an informative character and is not financial advice or a recommendation. IFCMarkets. Corp. under any circumstances is not liable for any action taken by someone else after reading this article.

Analysis feed

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!


Latest Forex Analysis

Editors’ Picks

AUD/USD: Above 0.6300 on Good Friday holiday with eyes on China CPI

AUD/USD remains above 0.6300, despite stepping back from the monthly high of 0.6363 to currently around 0.6330, at the start of Friday’s Asian session. Markets in Australia/US are closed for Good Friday, Chinese markets are up with March month inflation data on the cards.

AUD/USD News

USD/JPY: The greenback ticks down, trades above 108.00 figure

USD/JPY consolidates gains above the 108.00 figure. The level to beat for buyers is the 109.50 resistance. USD/JPY bull trend stays intact as the spot trades above the 108.00 handle and the 50/200 SMAs on the four chart.

USD/JPY News

Why stocks are recovering and where next

The S&P 500 index has recovered around half the losses it suffered due to the coronavirus pandemic. Is bad news priced in? How much credit does the Federal Reserve deserve? Where next for equities?

Read more

Gold: Multiple upside barriers before crossing $1,700

Despite probing the multi-year high, marked on Thursday, Gold prices near the key resistances while taking rounds to $1,685 at the start of Friday’s Asian session. The Good Friday holidays in major markets are expected to limit the yellow metal’s moves.

Gold News

Gold: Multiple upside barriers before crossing $1,700

Despite probing the multi-year high, marked on Thursday, Gold prices near the key resistances while taking rounds to $1,685 at the start of Friday’s Asian session. The Good Friday holidays in major markets are expected to limit the yellow metal’s moves.

Gold News

Forex Majors

Cryptocurrencies

Signatures