XAU/JPY Currency Pair Forecast
XAU/JPY currency pair price ended at JP¥376,072.00 on Tuesday, after gaining 0.459%.
(Updated on Jul 02, 2024)
The XAU/JPY currency pair price gained 0.459% on the last trading day (Tuesday, 2nd Jul 2024), rising from JP¥374,352.00 to JP¥376,072.00. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the currency pair fluctuated 0.684% from a day low at JP¥374,754.00 to a day high of JP¥377,316.00. The price has risen in 7 of the last 10 days and is up by 2.81% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 174 thousand more shares were traded than the day before. In total, 229 thousand shares were bought and sold for approximately JP¥86.06 billion.
The currency pair lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the currency pair is expected to rise 3.57% during the next 3 months and, with a 90% probability hold a price between JP¥373,840.05 and JP¥399,420.39 at the end of this 3-month period.
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XAUJPY Signals & Forecast
Mostly positive signals in the chart today. The XAU/JPY currency pair holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at JP¥372,879.10 and JP¥368,895.05. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, June 07, 2024, and so far it has risen 4.57%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. The currency pair had a Golden Star Signal on Wednesday, June 12, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the currency pair in question.
Golden Star
The currency pair had a Golden Star Signal on Wednesday, June 12, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the currency pair in question.
Support, Risk & Stop-loss for XAU/JPY currency pair
XAU/JPY finds support from accumulated volume at JP¥374,293.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the currency pair tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the currency pair moved JP¥2,562.00 between high and low, or 0.684%. For the last week the currency pair has had daily average volatility of 0.84%.
Our recommended stop-loss: JP¥359,059.01 (-4.52%) (This currency pair has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 32 days ago.)
Trading Expectations (XAUJPY) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect XAU/JPY to open at JP¥376,047.33, and during the day (based on 14 day Average True Range), to move between JP¥372,193.40 and JP¥379,950.60, which gives a possible trading interval of +/-JP¥3,878.60 (+/-1.03%) up or down from last closing price. If XAU/JPY takes out the full calculated possible swing range there will be an estimated 2.06% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at JP¥374,293.00 (0.47%) than the resistance at JP¥378,138.60 (0.55%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is XAU/JPY currency pair A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for XAU/JPY currency pair to perform well in the short-term.
Current score: 3.999 Buy Candidate Unchanged
Predicted Opening Price for XAU/JPY of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| JP¥376,047.33 ( 0.0066%) | JP¥376,072.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for XAUJPY
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 378,609.33 | 0.675% |
| R2 | 377,630.65 | 0.414% |
| R1 | 377,026.02 | 0.254% |
| Price | 376,072.00 | |
| S1 | 375,068.65 | -0.267% |
| S2 | 374,464.02 | -0.428% |
| S3 | 373,485.33 | -0.688% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 379,192.80 | 0.83% |
| R1 | 378,138.60 | 0.550% |
| Price | 376,072.00 | |
| S1 | 374,293.00 | -0.473% |
| S2 | 366,935.00 | -2.43% |
| S3 | 361,801.50 | -3.79% |
FAQ
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