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AUD/JPY Is Bearish, Watch For Yen Strength

By:
Nenad Kerkez
Published: Nov 17, 2021, 10:30 UTC

The price is bearish. When its risk-on environment, Commodities prices tend to increase, and traders go long AUD due to that factor.

AUD/JPY Is Bearish, Watch For Yen Strength

In this article:

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AUD/JPY Technical Analysis

  • AUD/JPY is bearish
  • Clear rejection below M L3
  • Q H3 should be the target
  • Connected to equities

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  1. Resistance level pinbar
  2. Low
  3. High
  4. Bearish rejection

The price is bearish. When its risk-on environment, Commodities prices tend to increase, and traders go long AUD due to that factor. When commodities prices go up, Stock Markets go up and there is demand for positive swaps on AUD pairs currently as opposed to JPY. When its a risk-off environment, usually the opposite occurs, and as a result, the JPY appreciates as foreign flows from Japan are repatriated back to their local currency. At this point we can see that the market is rejecting. 83.70 is the zone for short trades. Targets are 82.38 and 82.24.

For a look at all of today’s economic events, check out our economic calendar.

Cheers and safe trading,

Nenad

 

About the Author

Nenad Kerkezcontributor

M.Ec. Nenad Kerkez aka Tarantula is Elite CurrenSeas Head trader and a valued contributor to many premium Forex and trading websites.

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