stoictrader

AUDJPY Multiple Timeframe

In Charts on January 5, 2014 at 8:10 am

A look at AUDJPY in multiple timeframes from Monthly down to H4.  The uptrend looks good on the Daily/Weekly/Monthly charts, but rangey with room to go either direction.  The shortest term 4-hourly chart is bullish as we start the trading year but has been making lower swing highs since October which is worth keeping an eye on.

1. Monthly. Uptrend still looks viable, and price is above longer term moving averages and in the middle of a regression channel.

audjpymonthly

2. Weekly shows a similar view; the uptrend looks viable with support at 90, but plenty of room in the channel both higher and lower.  Bulls need to clear 95 to keep making progress.

2014 01 04 audjpy w1

3. (Weekly) The 52-Week Donchian indicator is in an uptrend, although it has been rangey for a few years.  Price has held the previous 52-week high at around 90 so far.

audjpyweeklydonch

4. Daily shows a very gentle uptrend, but a boring range for the second half of 2013.

audjpydaily

5. (Daily) The 20-Day Donchian indicator is showing the start of a downtrend, but price has yet to move down since this switch.

audjpydailydonch

6. A 3.5 ATR stop on the 4-hourly chart shows price is ranging but bullish into the first full trading week of the year.

audjpyh4

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