AUD/JPY and the S&P500.

The AUD/JPY has bounced up off major trend line support and is now back above the key 80 level. Despite an earlier TC signal to SHORT I had warned about this trend line given it had been in place since 2008. With the S&P500 holding above the daily Ichimoku Cloud traders should be on the lookout for any bullish continuation with both of these instruments. AUD Employment data should impact here though so watch for this release.

USDX daily: still in a descending trading channel and printing lower Highs and lower Lows for now. Keep watch of the 92.50 S/R level:

USDXdaily

S&P500 daily: watch for any hold above the Cloud and for any new bullish Tenkan/Kijun cross:

S&PdailyCloud

AUD/JPY: this often trades along the same lines with general risk appetite and so any bullish shift with stocks could drag this along for the ride. Thus, watch for any make or break with this 80 threshold level and that major triangle support trend line, especially with this week’s AUD Employment data:

A/J 4hr:  the TC signal to SHORT failed but I warned about support from the major trend line:

AJ4

A/J daily: watch for any make or break from the 80 level and the support trend line:

AJdaily

A/J weekly: trend line support holding for now:

AJweekly

A/J monthly: this trend line has been in play since 2008 and so will offer some decent support. Thus, watch for any make or break from this level and from the 80 support zone:

AJmonthly