# AUDJPY Short-Term Range (July 23, 2015) Source: https://www.tradersway.com/resources/market-info/audjpy-short-term-range-july-23-2015/ Language: en Updated: 2015-07-23 Description: Explore AUDJPY Short-Term Range (July 23, 2015). AUDJPY has been. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding. AUDJPY has been moving sideways on the 1-hour time frame, finding support around the 91.00 major psychological level and resistance just above 92.00. The pair seems to be on its way to test the bottom of the range for another potential bounce. However, the 100 SMA just crossed below the 200 SMA, suggesting that further decliens might be possible. If so, price could break below support at 91.00 and fall by an additional 100 pips, which is roughly the same height as the range. Stochastic is moving up though, which means that there could be enough buying pressure left for a move back to the top of the range. RSI is on the way down but is on middle ground, barely offering directional clues at the moment. Earlier today, Australia reported a climb in its NAB business confidence from 0 to 4 for the second quarter of the year, reflecting an increase in optimism. Meanwhile, Japan indicated a wider trade deficit of 0.25 trillion JPY from its previous 0.18 trillion JPY shortfall. The path of least resistance in terms of fundamentals is still to the downside since gold prices have been tumbling recently, which is not good for the positively-correlated Australian dollar. At the same time, equities have also been on the decline due mostly to weak US earnings reports and this is weighing on risk appetite and higher-yielding currencies like the Aussie. ![AUDJPY Short-Term Range (July 23, 2015)] There are no major reports lined up from both Japan and Australia for the rest of the day, leaving risk sentiment in the driver’s seat of price action. Further declines in gold and other commodities for the rest of the day could have an impact on market sentiment and Aussie trading. *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-short-term-range-july-23-2015/#primary", "url": "https://www.tradersway.com/resources/market-info/audjpy-short-term-range-july-23-2015/", "mainEntityOfPage": "https://www.tradersway.com/resources/market-info/audjpy-short-term-range-july-23-2015/", "headline": "AUDJPY Short-Term Range (July 23, 2015)", "inLanguage": "en", "datePublished": "2015-07-23T09:19:16+00:00", "dateModified": "2015-07-23T09:19:16+00:00", "articleSection": "Market Info", "description": "Explore AUDJPY Short-Term Range (July 23, 2015). AUDJPY has been. 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