As can be seen from the following intraday Forex sentiment waves chart – Australian dollar is rising strongly – in contrast to the sentiment of the other major currencies.
Selected alpha also evaluates the strength of sentiment impact on each of the currency pairs. The following list of the top affected pairs lists AUDJPY as the top affected currency pair at the moment – lying at the intersection of the strong Australian dollar inflows and strengthening yen outflows. The following table also shows the pip-distance to the next support and resistance levels.
As can be seen from the above table, AUDJPY has 36 pips to rise to the next important resistance level 82.088 (upper daily Bollinger Band). This level can be used as the intraday buy-target – given the overbought reading on the daily Stochastic and the freedom of only 17% (17% of the expected daily price range left to rise for this currency pair).