{"id":293353,"date":"2020-08-26T19:42:57","date_gmt":"2020-08-26T09:42:57","guid":{"rendered":"https:\/\/www.gomarketingteam.com\/articles\/chart-of-the-day-audjpy-potential-price-ceiling-76-80\/"},"modified":"2021-02-19T12:13:32","modified_gmt":"2021-02-19T01:13:32","slug":"chart-of-the-day-audjpy-potential-price-ceiling-76-80","status":"publish","type":"post","link":"https:\/\/www.gomarkets.com\/en\/daily-news\/chart-of-the-day-audjpy-potential-price-ceiling-76-80\/","title":{"rendered":"Chart of the Day: AUDJPY – Potential price ceiling @76.80?"},"content":{"rendered":"
AUDJPY – 4HR<\/strong><\/h5>\n

\"\"<\/a><\/p>\n

\"\"<\/h5>\n
AUDJPY (4HR)<\/strong><\/h5>\n

Today we are looking at AUDJPY on the 4hr time frame. Despite a more robust Aussie Dollar recovery since March earlier in the year, there appear to be warning signs that this bullish move could run out of steam in the short to medium-term.<\/p>\n

Firstly, we can note the overall strength of the move higher by how well the price action has managed to stay above the 200 moving-day average line in blue, acting as a key support indicator several times this year.<\/p>\n

However, if we study what happens when the bulls attempt a run at the 76.80 region highlighted by the arrow in white, it’s clear that the pair may be facing somewhat of a price ceiling after five failed attempts to break above this level since June.<\/p>\n

As the pair heads back into this price territory, buyers will be assessing whether there is sufficient momentum left in this longer-term rally to carry the Aussie Yen towards higher ground or if sellers have gained the upper hand at these levels. A breach of 76.80 would most probably look to target the 80.00 price point seen in the earlier part of last year.<\/p>\n

Finally, the last point to mention is the ever-so-slight bearish divergence forming on the chart’s RSI indicator. It’s another potential sign of an oncoming reversal. It may see the pair retest the 200-day moving average once again (currently sitting around 75.70) before drifting lower towards 74.50 and flattening the overall trend and looking like more of a range-bound picture longer-term.<\/p>\n

 <\/p>\n

By Adam Taylor CTEe<\/strong><\/p>\n

.@<\/a>adamt_trading<\/a><\/p>\n

Sources: Go Markets, Meta Trader 5, TradingView, Bloomberg<\/p>\n

Disclaimer: The articles are from GO Markets analysts, \u00a0based on their independent analysis or personal experiences. Views or opinions or trading styles expressed are of their own; \u00a0should not be taken as either representative of or shared by GO Markets.\u00a0 Advice (if any), \u00a0are of a \u2018general\u2019 nature and not based on your personal objectives, financial situation or needs.\u00a0 You should therefore consider how appropriate the advice (if any) is to your objectives, financial situation and needs, before acting on the advice.\u00a0 If the advice relates to acquiring a particular financial product, you should obtain and consider the Product Disclosure Statement (PDS) and Financial Services Guide (FSG) for that product before making any decisions.<\/p>\n

<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

AUDJPY – 4HR AUDJPY (4HR) Today we are looking at AUDJPY on the 4hr time frame. Despite a more robust Aussie Dollar recovery since March earlier in the year, there appear to be warning signs that this bullish move could run out of steam in the short to medium-term. Firstly, we can note the overall […]<\/p>\n","protected":false},"author":16,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2871,129],"tags":[],"yoast_head":"\nChart of the Day: AUDJPY - Potential price ceiling @76.80? - GO Markets<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.gomarkets.com\/en\/daily-news\/chart-of-the-day-audjpy-potential-price-ceiling-76-80\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Chart of the Day: AUDJPY - Potential price ceiling @76.80? - GO Markets\" \/>\n<meta property=\"og:description\" content=\"AUDJPY – 4HR AUDJPY (4HR) Today we are looking at AUDJPY on the 4hr time frame. 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