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Next Week Forecast: the most interesting pair you can make money with - AUD/JPY

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by , 01-30-2016 at 08:43 PM (802 Views)
      
   
AUD/JPY: daily breakout with the possible bullish reversal. The pair is on primary bearish market condition located below Ichimoku cloud with the secondary rally to be started: price is on local uptrend for the breakout of the key resistance levels trying to cross 84.79 resistance to above on close daily bar for the breakout to be continuing. Chinkou Span line is located below the price indicating the breakout to be continuing by the direction, and Absolute Strength indicator is estimating the bullish reversal to be started in the near future.

There are 3 scenarios for the price movement for the week:

  • breakout to be continuing up to 88.20 resistance in case the price breaks 84.79 to above on close daily bar,
  • daily bullish reversal to be started in case the price breaks 88.20,
  • or the ranging within the bearish within the levels.

There are the following news events which will be affected on GBP/CAD price movement for the coming week:

  • 2016-01-31 23:30 GMT | [AUD - MI Inflation Gauge]
  • 2016-02-01 01:00 GMT | [CNY - Manufacturing PMI]
  • 2016-02-01 05:30 GMT | [AUD - Commodity Prices]
  • 2016-02-01 15:00 GMT | [USD - ISM Manufacturing PMI]
  • 2016-02-02 03:30 GMT | [AUD - Cash Rate]
  • 2016-02-03 00:30 GMT | [AUD - Trade Balance]
  • 2016-02-03 04:30 GMT | [JPY - BOJ Gov Kuroda Speaks]
  • 2016-02-04 00:30 GMT | [AUD - NAB Quarterly Business Confidence]
  • 2016-02-05 00:30 GMT | [AUD - Retail Sales]
  • 2016-02-05 13:30 GMT | [USD - Non-Farm Employment Change]

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Resistance
Support
88.20 81.94
90.71 79.20

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