This week AUDJPY has been up in the  3 days . Although Japan  earthquake has caused downward pressure on USDJPY . As it is shown that the commodity index CRY has increased by 10% since 5 April , 2016 , as it is shown in the chart below.

 

20160421 CRY

The strength of commodity has fuel the money flow in to Australia. The AUDUSD has bounce off the 0.75 support area to 0.78 level. The highest since May 2015. Looking at the monthly Pivot for AUDUSD has a potential to reach MR2 of 0.82 level.

 

20160421 AUDJPY 4H

A nice Pull back 0.85 level  later today will be a nice buy opportunity for the bull.

 

Happy Trading

 

2 thoughts on “AUDJPY looking for further up ( 21 April,2016)”

  1. Thank you for the research, it is helpful as I am looking at taking some profit on my long audusd position. Much appreciated.

  2. Tx Daniel,good to know about that index.

Leave a Reply