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  • The AUD/JPY pair closed at 83.04 yesterday, confirming a bull flag breakout on the daily chart. The bullish continuation pattern indicates the rally from the Oct. 26 low of 78.56 has resumed and may have opened the doors to 87.00 (target as per the measured height method).
  • The bull breakout on the AUD/JPY cross – a global risk barometer – could be hinting at “Santa rally” in global equities.
  • At press time, the pair is reporting moderate losses at 82.83, possibly due to a weaker-than-expected Q3 CAPEX release.
  • The bullish outlook would be invalidated if the JPY cross finds acceptance below the upward sloping (bullish) 20-day moving average (MA) of 82.16.

Daily Chart

Trend: Bullish


       Today Last Price:  82.87
       Today Daily change:  -20  pips
       Today Daily change %:  -0.241%
       Today Daily Open:  83.07
       Previous Daily SMA20:  82.1
       Previous Daily SMA50:  81.16
       Previous Daily SMA100:  81.29
       Previous Daily SMA200:  81.91
       Previous Daily High:  83.2
       Previous Daily Low:  82.16
       Previous Weekly High:  82.64
       Previous Weekly Low:  81.2
       Previous Monthly High:  82.5
       Previous Monthly Low:  78.56
       Previous Daily Fibonacci 38.2%:  82.8
       Previous Daily Fibonacci 61.8%:  82.56
       Previous Daily Pivot Point S1:  82.42
       Previous Daily Pivot Point S2:  81.77
       Previous Daily Pivot Point S3:  81.38
       Previous Daily Pivot Point R1:  83.46
       Previous Daily Pivot Point R2:  83.85
       Previous Daily Pivot Point R3:  84.5