Aud/Jpy is in final stage of it’s triangle formation. Once pattern is complete, a person can expect a sharp thrust off towards it’s initial target of previous wave 4. For more details of target, kindly visit my previous posts. 

Recommendation: short can be build up slowly here

• 100.85 – ⅓ position…

Westpac - "AUD/JPY is likely to be volatile in coming months. Our base case is for a pullback to around 98-99 over the next month as the BoJ doesn’t announce any new easing measures and investment outflows from Japan remain patchy. By mid-2013 however there is likely to be renewed upward pressure on AUD/JPY, with scope for 107/108, as BoJ easing in full swing encourages Japanese life insurers and others to invest abroad. To reinforce the potential volatility, we look for AUD/JPY to fall back…

Quick update, This pair was working well as per last few posts. A risk can be lower down to 102.60, if 102.60 not hold, we might see a new high above 102.90.

Written by: …

A pair had a top on 105.4. From top, we are in larger wave 4. Last drop was impulse drop and can be counted a  first wave in zigzag correction – A. There is very less chance of considering that wave as part of larger impulse move i.e. 1 (marked with red color), but having the probability, I keep that in my daily chart. On 240 min chart, price is well between in the channel, and depend on today close, we find reversal pattern on daily chart.…

Societé Generale - "EUR/JPY and AUD/JPY technical patterns show that the consolidation period is coming to an end, and the pairs are likely to move to the upside soon. The EUR is a bit cheap from a PCA view, suggesting a short covering is possible, but the strongest signal is long AUD/USD and EUR/SEK. Our systems are currently sending softer signals but remain long USD, AUD and NZD and short EUR, GBP, JPY and NOK."

As far as current price action, it’s on track as per my last post. Below 240min chart, showing cycle / wave A on larger degree completed, and can expect wave B here. This move also can be counted impulsive for final wave 5 on daily and weekly chart, and…

JP Morgan - "The JPY has room to extend its latest gains within its broader 4th wave recovery

Given the break below first Fib.-support at 119.41 (minor 38.2 %) in EUR/JPY we see additional downside to 117.25 (38.2 % on higher scale) where the market would offer the perfect risk-reward to bet on a still missing 5th wave advance towards 132.04 (50 %). Similar setups are given in USD/JPY and in various JPY-Crosses where we see good JPY selling opportunities against 89.78 and 88.78/04 (int.…

JP Morgan - "USD/JPY targets have been raised to 94 for Q1, 97 for Q2 and Q3, and 96 for Q4. The main driver of JPY weakness has been an “inflation expectations bubble” spurred by unrealistically high hopes for Abenomics. We expect the JPY will continue to decline in trade-weighted terms, but in a choppy fashion. In particular, investors are likely to be disappointed by the modest outcome we expect from the BoJ’s April 4 meeting (the first under the new Governor and Deputy…

Westpac - "While AUD has looked tired on some crosses lately, USD/JPY resilience suggests it is too early to call a top in AUD/JPY. Potential investor disappointment over the BoJ meeting mid-Feb could see a pullback to 93.00/50 but then the pair should resume its upswing towards 96.50/97.00. By H2 2013 however, the pair is likely to be considerably lower, mostly due to USD/JPY reversal.

(...) AUD/JPY has left behind all major moving averages. Potential technical resistance lies at 96.45…

But is it real? Currently we are at 93.79  and sitting above the .382 Fibo. There is also a day chart trend line here so a false breakout and then a bounce on the Day chart line is possible.  The target area up is the R5@ 95.03 and the Down target is the .618 Fibo @ 92.67. The average daily trading range (ATR) is 111 pips.…

JP Morgan - "Medium-term technical view: The bearish action for JPY since November has confirmed a broad-based medium term shift. Importantly, the break of several critical levels against the USD and for the crosses argues for a continuation of this trend in the coming weeks. The highlight of the bearish framework is the extension above the 84.20/85.55 resistance zone (2012/2011 highs) for USD/JPY. The subsequent price action affirmed the medium term base breakout and renewed trending bias.…

Currently we are at 94.14  and breaking into a nice area.  The target area up  is the 5^th wave R4@ 94.80 then 94.95. The average daily trading range (ATR) is 98 pips.…

HSBC - Key trade: Buy AUD-JPY
Entry: 94.26 Target: 99.30 Stop: 91.70
We see three factors driving AUD-JPY higher in the short-term
1) A risk-on mood bolstered by dovish Fed speakers
2) AUD upside on the back of stronger than expected China data
3) Ongoing JPY weakness in the run-up to BoJ meeting.

Currently we are at 87.44 after taking out our target from yesterday.  We are in the 5^th wave and seeking the top.   The first target area is the 1.618 Fibonacci extension @ 87.73.  The big target is the Day chart top @ 88.65.   The average daily trading range (ATR) is 65 pips.…

The release of the retail sales data resulted to the decline of the Australian dollar in yesterday's Asian trading session, as the weak data added to speculations that the Reserve Bank of Australian (RBA) would cut interest rates at its policy meeting today. On the other hand, the Samurai gained as talks to avert the fiscal cliff stalled, causing investors to shun risk and seek refuge from safer assets. 



Today, the Aussie is seen to extend losses versus the…

Westpac - "We have been surprised by the extent of the recent AUD/JPY rally but see signs of fatigue. Our base case is for a pullback from the low 86s near term to 84 by year end. Factors to weigh on the pair include a likely RBA rate cut next week and eventual disappointment over what Japan LDP leader Abe can actually deliver in terms of JPY weakness."

The Japanese yen recovered from its previous losses in yesterday's Asian trading exchanges before the Eurogroup leaders met for a third time to make an attempt in reaching a Greek deal. However, gains of the Yen versus the Australian dollar were curbed by expectations that the Bank of Japan (BOJ) would be pressured to aggressively ease monetary policy after the December election. In today's trades, the AUDJPY pair is set to turn losses to gains, given that an agreement as regards Greece's…

National Bank of Australia - "Since  being  short  yen  has,  along  with  short  euro,  proved  to  be a widow-maker  for  many a macro trader in the past year or more, it does not appear  that  short  yen  positioning  is  significant, notwithstanding the recent  run up from sub-Y79 to above Y82.  As such, if current expectations for  a LDP victory, even if not with an outright majority, continue to…

Currently we are at 83.97.   The target area is the resistance cluster (R4/1.270 Fibonacci extension) @ 80.30-81.42.  Watch for bears to enter there.   The average daily trading range (ATR) is 83 pips.…

National Australia Bank - "We look to buy EUR/USD at 1.2640 for a recovery to 1.29/1.30. Stop 1.2480. We accept in the current environment any sizeable relief rally may be some weeks away, possibly resulting in 1.2630-1.28 range trading."

AUDNZD 1-3 month target: 1.24-1.26; 6-12 month target: 1.22-1.24

AUDEUR 1-3 month target: 0.75-0.77; 6-12 month target: 0.72-0.75

AUDGBP 1-3 month target: 0.62-0.63; 6-12 month target: 0.61-0.62

AUDJPY 1-3 month target: 82-80; 6-12…