Sumary of AUDJPY trades between the goal posts:
- 100 and 200 hour MAs defined the trading range today in the AUDJPYThe AUDJPY, after trending lower for most of July, has corrected higher over the last three trading days.
- The price yesterday move back above its 100 hour moving average (currently at 80.75 – see blue line).
- The next target was the broken 200 day moving average at 81.157. Sellers leaned against that level on the first test.
- The subsequent price rise higher, saw the pair extend above the 200 day moving average (bullish), but ended up finding willing sellers against the 38.2% retracement of the July trading range AND the 200 hour moving average.
- Both came in at 81.497. The high price reached 81.467 and backed off.
- Since then, the price for the AUDJPY has rotated back down toward the 200 day moving average.