TriumphFX – Forex Analysis – JPY Pairs – July, August & September 2021


Previous analysis… https://analysis.tfxi.com/2021/04/05/triumphfx-forex-analysis-jpy-pairs-april-may-june-2021/

AUDJPY – Daily Chart

AUDJPY Daily Chart

The AUDJPY has been moving sideways.

Recently, price has been bearish. AUDJPY is below a recent range and below the moving averages, suggesting a potential downtrend. The moving averages are tightening and moving sideways though, signalling market indecision.

Trading opportunities could exist around the moving averages and around any of the horizontal levels at 72.95, 78.15, 79.60, 82.35 and 85.35.

CADJPY – Daily Chart

CADJPY Daily Chart

As suggested in our last analysis, the CADCHF has reversed around the longer-term moving average.

Price is clearly up-trending – price action has formed a series of higher swing highs and higher swing lows. The moving averages are bullish and steady, signalling that the uptrend may continue.

Opportunities to go long could exist around the longer-term moving average, around the trend support area, around the 50.0% and 61.8% Fib levels and around the horizontal levels at 85.65, 81.80 and 78.00. A bullish move may be rejected or reverse around the shorter-term moving average and around the horizontal resistance levels at 88.10 and 91.00.

EURJPY – Daily Chart

EURJPY Daily Chart

Price has been bullish, as suggested in our last JPY chart analysis.

EURJPY is up-trending and is currently in a strong retrace move. Price action has formed a number of resistance levels and price is below the moving averages, all signalling that price may struggle to swing higher. The moving averages confirm this – they are no longer bullish but are moving sideways – signalling market indecision.

Opportunities to go long could exist around the longer-term moving average and around the horizontal levels 128.45, 127.35, 125.05 and 121.75. A bullish move may be rejected or reverse around the moving averages and around the horizontal levels at 130.50, 132.45 and 133.95.

GBPJPY – Daily Chart

GBPJPY Daily Chart

Price swung higher, as suggested in our last analysis.

GBPJPY has since been in a retrace move. The moving averages are still bullish, suggesting that the upside trend may continue.

Opportunities to go long could exist around the longer-term moving average and around the horizontal levels at 148.80 and 142.00. A bullish move may be rejected or reverse around the shorter-term moving average and around the horizontal resistance levels at 153.30 and 155.90.

USDJPY – Daily Chart

USDJPY Daily Chart

As suggested in our last JPY chart analysis, the USDJPY has been bullish and has swung higher.

Price is clearly up-trending – price action has formed a series of higher swing highs and higher swing lows. The moving averages are bullish and steady, suggesting that the USDJPY could attempt to move higher. Price has swung below the trend support area though, signalling that USDJPY could struggle to swing higher.

Buying opportunities may exist around the longer-term moving average and around the horizontal levels at 107.85, 107.00, 106.15 and 104.50. A bullish move could find resistance around the shorter-term moving average, around the previous trend support area and around the recent swing high at 111.50.

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