AUDJPY Testing 50 Percent Fib Retrace of June Slide
Darren Chu, CFA of Tradable Patterns - - Wed Jul 11, 11:22PM CDT

Tradable Patterns ( provides technical analysis on a subset of three CME/ICE/Eurex futures (commodities, equity indices, and interest rates), spot FX and cryptocurrency markets, which it considers worth monitoring for the day/week for trend reversal or continuation. For less experienced traders, tutorials and workshops are offered online and throughout Southeast Asia.

The AUDJPY formed a daily Hammer yesterday, rebounding off upchannel support (on the 4hr and daily chart). The bigger picture is of the AUDJPY bouncing off a slightly downsloping support line (on the weekly chart) and trying to reclaim the top of the range since March. The weekly, daily and 4hr RSI, Stochastics and MACD are bottomish, rallying or consolidating recent gains. I am flat after profitably closing a long yesterday, and am looking to re-enter long in the green zone (of the daily chart), targeting the red zone for Friday. The amber/yellow zone is where I might place a stop if I was a swing trader (although in my personal account with which I seldom hold overnight I set my stops tighter).

AUDJPY Weekly/Daily/4hr

AUDJPY Technical Analysis

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