Large Channel Setup in AUD/JPY Currency Pair

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By Jamie Saettele | Published 12/16/2005 | Currency | Unrated

Large Channel Setup in AUD/JPY Currency Pair

Weekly Chart Analysis: Large Channel Setup in AUD/JPY

AUD/JPY continues to trade within a Large Channel
High probability setup points to a possible to a move below Channel's lower boundary
Failure analysis points to a move a break above the Channel's upper boundary

Key Levels - Current Price: 86.35

Level    Type          Significance
91.36    Resistance Multi-Year High
87.31    Resistance 23.6 Fib of the 74.23-91.36 AUD rally
84.81    Support       38.2 Fib of the 74.23-91.36 AUD rally
92.80    Support       50.0 Fib of the 74.23-91.36 AUD rally
80.77    Support      61.8 Fib of the 74.23-91.36 AUD rally

Weekly Chart 12-16-05

Daily Chart I 12-16-05

Daily Chart II 12-16-05

Daily Chart III 12-16-05

Sam Shenker is a Technical Currency Analyst for FXCM.

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