Japanese Yen Index Daily Chart
JPY Index daily chart produced utilizing TradingView JPY Index averages CAD/JPY, EUR/ JPY, AUD/ JPY, GBP/JPY
Directed lower by the downtrend extending from the yearly high set in March, JPY crashed through its 2014 uptrend previously this month prior to discovering assistance at the February low.
Although RSI divergence suggests a degree of underlying exhaustion in the recent sag, the oscillator continues to track below 30 and in oversold area.
Nevertheless, the course of least resistance for the ‘safe haven’ currency appears to be lower, with a break and close below the February lows needed to confirm bearish capacity.
EUR/JPY Daily Chart– Increasing Wedge Pattern Threatens Uptrend
EUR/JPY daily chart created utilizing TradingView
A Hanging Man candle simply shy of the April 2019 high (126
With price appearing to have carved out a bearish Increasing Wedge pattern over the last 12 months, a considerable break to the downside might be in the offing if sellers can snap the exchange rate’s 14- week uptrend as well as assistance at the June high (124
A decrease may enable EUR/JPY to shake off overbought readings on the RSI and regroup for a push to fresh annual highs, if purchasers can smash through resistance at the month-to-month swing top (126
AUD/JPY day-to-day chart produced using TradingView
AUD/JPY rates appear to have sculpted an Rising Triangle pattern at key resistance, with a series of lower lows and stagnant highs signalling that sellers might be running out of steam as they attempt to safeguard the mentally pivotal 77 level.
Overbought readings would probably coincide with AUD/JPY climbing up above crucial resistance at the June high (76
Conversely, a break of trend assistance would invalidate the bullish pattern and could ignite a pullback to the 200- day moving average (73
— Composed by Daniel Moss, Analyst for DailyFX
Follow me on Twitter @DanielGMoss
source https://jobsearchtips.net/japanese-yen-price-outlook-eur-jpy-aud-jpy-levels-to-enjoy/
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