# AUDJPY Correction Setup (Sept 10, 2014) Source: https://www.tradersway.com/resources/market-info/audjpy-correction-setup-sept-10-2014/ Language: en Updated: 2014-09-10 Description: Explore AUDJPY Correction Setup (Sept 10, 2014). AUDJPY has. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding. AUDJPY has recently broken the major resistance level at the 96.00 psychological handle a few weeks back and made a strong rally to the 98.75 area. However, price appears to be retreating as traders booked profits and sentiment appears to be turning for the Australian dollar. With that, price could pull back to the broken resistance zone, which might act as support from now on. This is in line with the 50% to 61.8% Fibonacci retracement levels, which might keep any losses in check. A shallow retracement might last until the 38.2% level only, which is near the 97.00 major psychological support. Stochastic has already reached the oversold region, indicating that selling pressure is weakening. When the oscillator moves out of the oversold zone and starts heading north, price could resume its climb and possibly test the previous highs near 98.75. Stronger buying momentum might even lead to the formation of new highs beyond 99.00. Weak Japanese data could keep yen gains at bay, as the BOJ is being pressured to increase stimulus for the economy. Meanwhile, Australia is also showing a few signs of weakness, along with China. The recent dip in Chinese imports spells downbeat prospects for Australia’s export sector, which accounts for a huge part of overall economic growth. ![AUDJPY Correction Setup (Sept 10, 2014)] The event risk for this trade is the Australian jobs release tomorrow and the Chinese CPI. Earlier today, Japanese core machinery orders and PPI already came in below expectations. *By Kate Curtis from Trader’s Way* ## Structured data JSON-LD as served in the HTML version of this page. ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Article", "@id": "https://www.tradersway.com/resources/market-info/audjpy-correction-setup-sept-10-2014/#primary", "url": "https://www.tradersway.com/resources/market-info/audjpy-correction-setup-sept-10-2014/", "mainEntityOfPage": "https://www.tradersway.com/resources/market-info/audjpy-correction-setup-sept-10-2014/", "headline": "AUDJPY Correction Setup (Sept 10, 2014)", "inLanguage": "en", "datePublished": "2014-09-10T09:17:31+00:00", "dateModified": "2014-09-10T09:17:31+00:00", "articleSection": "Market Info", "description": "Explore AUDJPY Correction Setup (Sept 10, 2014). AUDJPY has. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding.", "image": { "@type": "ImageObject", "url": "https://www.tradersway.com/wp-content/themes/tradersway/images/og-default.png" }, "author": { "@type": "Organization", "@id": "https://www.tradersway.com/#organization" }, "publisher": { "@id": "https://www.tradersway.com/#organization" } }, { "@type": [ "Organization", "FinancialService" ], "@id": "https://www.tradersway.com/#organization", "name": "Trader's Way", "alternateName": "TradersWay", "legalName": "TW Corp LLC", "description": "Trader's Way is the trading brand of TW Corp LLC, a company registered in Anguilla under number A000001731. It provides online leveraged trading in forex, metals, energies, stock indices and cryptocurrencies through MetaTrader 4, MetaTrader 5 and cTrader, with Market execution, a 40% stop out level and a minimum initial deposit of 10 USD. The company holds no financial services licence and does not direct its services to residents of the United States or the United Kingdom.", "url": "https://www.tradersway.com", "foundingDate": "2011", "logo": { "@type": "ImageObject", "url": "https://www.tradersway.com/wp-content/themes/tradersway/images/logo-square-512.png" }, "address": { "@type": "PostalAddress", "streetAddress": "No. 9 Cassius Webster Building, Grace Complex", "postOfficeBoxNumber": "1330", "addressLocality": "The Valley", "postalCode": "AI-2640", "addressCountry": "AI" }, "contactPoint": { "@type": "ContactPoint", "contactType": "customer support", "email": "support@tradersway.com" }, "areaServed": "Worldwide, excluding the United States and the United Kingdom", "knowsAbout": [ "Foreign exchange trading", "Contracts for difference", "Leveraged trading", "Precious metals trading", "Energy commodities trading", "Stock index trading", "Cryptocurrency trading", "MetaTrader 4", "MetaTrader 5", "cTrader" ], "sameAs": [ "https://www.trustpilot.com/review/www.tradersway.com", "https://www.forexpeacearmy.com/forex-reviews/8129/tradersway-forex-brokers", "https://www.youtube.com/channel/UChRC072YJGlNNNYhg_0hZeA", "https://www.facebook.com/tradersway.forex.broker", "https://twitter.com/TradersWay", "https://www.instagram.com/traderswayforex/", "https://t.me/tw_eng" ], "identifier": { "@type": "PropertyValue", "propertyID": "Anguilla company registration number", "value": "A000001731" }, "location": { "@type": "Place", "address": { "@type": "PostalAddress", "streetAddress": "Radnicka 147", "addressLocality": "Valjevo", "postalCode": "14000", "addressCountry": "RS" } } }, { "@type": "WebSite", "@id": "https://www.tradersway.com/#website", "url": "https://www.tradersway.com", "name": "Trader's Way", "publisher": { "@id": "https://www.tradersway.com/#organization" } }, { "@type": "BreadcrumbList", "@id": "https://www.tradersway.com/resources/market-info/audjpy-correction-setup-sept-10-2014/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://www.tradersway.com/" }, { "@type": "ListItem", "position": 2, "name": "Resources", "item": "https://www.tradersway.com/resources/" }, { "@type": "ListItem", "position": 3, "name": "Market Info", "item": "https://www.tradersway.com/resources/market-info/" }, { "@type": "ListItem", "position": 4, "name": "AUDJPY Correction Setup (Sept 10, 2014)", "item": "https://www.tradersway.com/resources/market-info/audjpy-correction-setup-sept-10-2014/" } ] } ] } ``` ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Person", "@id": "https://www.tradersway.com/#wayne-mcdonell", "name": "Wayne McDonell", "jobTitle": "Chief FX Strategist", "description": "Chief FX Strategist at Trader's Way, trading forex publicly since 2004. His analysis has appeared in the Wall Street Journal, Bloomberg Television, Fox Business, Futures Magazine and FOREX Journal Magazine. Author of \"Strategic and Tactical Forex Trading\".", "worksFor": { "@id": "https://www.tradersway.com/#organization" }, "knowsAbout": [ "Foreign exchange market", "Technical analysis", "Fundamental analysis", "Forex trading strategy" ], "sameAs": [ "https://www.youtube.com/c/tradersway" ] }, { "@id": "https://www.tradersway.com/#organization", "employee": { "@id": "https://www.tradersway.com/#wayne-mcdonell" } } ] } ```