CHF/JPY retraced 61.8% of its August-September decline, corrected down, formed a higher low above the 100-day MA and now seems eager to rise to the 78.6% Fibonacci level at 116.90.
Trade setups for AUD/JPY
2020-05-21 • Updated
It’s worth paying attention to AUD/JPY. The pair has approached the resistance line connecting April and May highs. Bullish momentum has recently declined; we can see that the Awesome Oscillator doesn’t confirm price highs. On the upside, the obstacle lies at 71.35. AUD/JPY needs to break higher in order to gain ability to get to 72.10 (200-day MA). On the downside, we see significant support at 70.45 (100-day MA) and 70.15 (previous highs). Below this point, targets will be at 69.70 and 69.20.
Overall, the pair can make another attempt to test 71.20/35 area and then turn to the mentioned support levels.
Trade ideas for AUD/JPY
BUY 71.45; TP 72.00; SL 71.30
SELL 71.00; TP1 70.45; TP2 69.70; SL 71.25
U.S. stock markets opened higher on Monday, buoyed by hopes for a last-minute agreement on a comprehensive fiscal stimulus package before the elections on November 3.
EUR/AUD formed a candlestick with a long upper shadow on the D1. The pair is currently testing levels below the 50- and the 100-period moving averages.
Gold is trading sideways around the $1 900 level, but Biden’s victory will drive it upwards.
U.S. stock markets are set to open with a modest bounce after their worst day in over a month on Monday.
Asian equity markets resumed the weak performance seen across global peers which culminated in Wall St’s worst day in over a month