This article looks at what's happening from a technical perspective based on price action for 3 forex pairs: AUD/USD, AUD/JPY and USD/JPY.

Going forward (if time permits; also, for the sake of improving my price action analysis, overall), there maybe updates at the comments section once I saw further developments to share for these pairs.

Figure 1: Monthly charts of AUD/USD, AUD/JPY and USD/JPY.

From figure 1 (the red/green colored boxes are used to find the pip moves year-to-date).

For AUD/USD, AUD have been gaining more buyers than USD, the pair moved up about 326 pips year-to-date (pips referred from its green-colored box at its bottom-right); but it is finding resistance at mid-line of Bollinger (20, 2, 2).

For AUD/JPY, AUD has more sellers than JPY (year-to-date move: down about 857 pips); but the pair has strengthened since the start of July '16.

For USD/JPY, of the 3 pairs, it gained the most pip-move, down about 1633 pips year-to-date; seems to be range-bound since start of July '16.

Figure 2: Weekly charts of AUD/USD, AUD/JPY and USD/JPY.

From figure 2, I've added smaller boxes (colored borders of red/green boxes) for further reference to each quarter of Q1, Q2 and Q3 for 2016.

AUD/USD is finding strong resistance as shown at 0.7700 to 0.7830. I'm expecting price ranging within its Q3 candle after making a higher higher for its current weekly candle.

AUD/JPY is finding strong resistance as shown at 80 to 81 after making a higher high (looks slightly bullish, attempting to retrace upwards after a bearish momentum move during its Q2 period).

USD/JPY is consolidating at the mid-line of its Bollinger (20, 2, 2) for its current weekly candle.

Figure 3: Daily charts of AUD/USD, AUD/JPY and USD/JPY.

Both AUD/USD and AUD/JPY made a sharp down move for 2 days after breaking its long-term resistance level (red, dashed horizontal line).

USD/JPY seems to be consolidating with its price reducing its amplitude for last week.

That's it!

Hope it helps.

Thanks for dropping by!

Best Regards,


Towards sustainability, and beyond !

PS: Click "sustainability" for the link to my article on risk management (relating to leverage and trade sizing).
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