xtreamforex12
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Technical Overview of USD/JPY and AUD/USD Currency Pair
USD JPY
USD traded lower against JPY and closed at 110.42
USD/JPY stalls its bounce near 110.40 regions and meets fresh supply over the last hour, as the risk-off sentiment intensifies amid rising coronavirus risks and knocks-off the US 10-year Treasury yields to a new record low just above the 1.30% level.
• USD/JPY printed a bullish inside day candlestick pattern on Wednesday.
• The pair could find bids and challenge resistance at 110.70-111.00.
• USD/JPY: Bulls and bears jostle below 111.00 amid coronavirus fears
• USD/JPY fails to hold onto the previous day’s recovery gains.
• Traders smell fears in the US President Donald Trump’s measured comments.
• Coronavirus updates keep the risk-tone under pressure; US data will decorate the economic calendar.
• USD/JPY drops back towards 110.00 as US 10-year Treasury yields hit record lows
According to the Analysis, pair is expected to find support at 110.18 and a fall through could take it to the next support level of 110.05. The pair is expected to find its first resistance at 110.62, and a rise through could take it to the next resistance level of 110.75.
AUD USD
AUD traded higher against USD and closed at 0.6543.
AUD/USD extends the bounce above 0.6550 after Australia's Q4 Capex data release. The headline number missed forecasts; however, estimates for 2020/21 bettered expectations. The risk-off tone in the markets could cap the further upside in the spot.
• AUD/USD looks oversold as per the daily chart RSI.
• The 4-hour chart RSI is reporting a bullish divergence.
• The broader trend remains bearish with the pair stuck in a falling channel.
• AUD/USD may witness a corrective bounce as technical charts are signaling seller exhaustion.
The 4-hour chart RSI has charted higher lows, contradicting lower lows on price. That bullish divergence indicates the bearish momentum has ebbed. The inverted hammer seen on the 4-hour chart is also echoing similar sentiments.
According to the Analysis, pair is expected to find support at 0.6540 and a fall through could take it to the next support level of 0.6524. The pair is expected to find its first resistance at 0.6590 and a rise through could take it to the next resistance level of 0.6606.
More information about the release time of news and its impact visit Economic Calendar Page!
USD JPY
USD traded lower against JPY and closed at 110.42
USD/JPY stalls its bounce near 110.40 regions and meets fresh supply over the last hour, as the risk-off sentiment intensifies amid rising coronavirus risks and knocks-off the US 10-year Treasury yields to a new record low just above the 1.30% level.
• USD/JPY printed a bullish inside day candlestick pattern on Wednesday.
• The pair could find bids and challenge resistance at 110.70-111.00.
• USD/JPY: Bulls and bears jostle below 111.00 amid coronavirus fears
• USD/JPY fails to hold onto the previous day’s recovery gains.
• Traders smell fears in the US President Donald Trump’s measured comments.
• Coronavirus updates keep the risk-tone under pressure; US data will decorate the economic calendar.
• USD/JPY drops back towards 110.00 as US 10-year Treasury yields hit record lows
According to the Analysis, pair is expected to find support at 110.18 and a fall through could take it to the next support level of 110.05. The pair is expected to find its first resistance at 110.62, and a rise through could take it to the next resistance level of 110.75.
AUD USD
AUD traded higher against USD and closed at 0.6543.
AUD/USD extends the bounce above 0.6550 after Australia's Q4 Capex data release. The headline number missed forecasts; however, estimates for 2020/21 bettered expectations. The risk-off tone in the markets could cap the further upside in the spot.
• AUD/USD looks oversold as per the daily chart RSI.
• The 4-hour chart RSI is reporting a bullish divergence.
• The broader trend remains bearish with the pair stuck in a falling channel.
• AUD/USD may witness a corrective bounce as technical charts are signaling seller exhaustion.
The 4-hour chart RSI has charted higher lows, contradicting lower lows on price. That bullish divergence indicates the bearish momentum has ebbed. The inverted hammer seen on the 4-hour chart is also echoing similar sentiments.
According to the Analysis, pair is expected to find support at 0.6540 and a fall through could take it to the next support level of 0.6524. The pair is expected to find its first resistance at 0.6590 and a rise through could take it to the next resistance level of 0.6606.
More information about the release time of news and its impact visit Economic Calendar Page!