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EUR/JPY, AUD/JPY Levels to Watch

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Japanese Yen Price Outlook: EUR/JPY, AUD/JPY Levels to Watch

Japanese Yen Outlook, AUD/JPY, EUR/JPY, JPY Technical Analysis – Talking Points:

  • Japanese Yen may extend its recent decline after snapping key trend support and sliding into oversold territory for the second time in 2020.
  • EUR/JPY rates due for a pullback as RSI divergence suggests exhaustion and price carves out a bearish Rising Wedge pattern.
  • AUD/JPY tracking in Ascending Triangle hints at possible bullish breakout in the coming days.

Despite a relatively bleak fundamental backdrop, the haven-associated Japanese Yen seems poised to extend its 5-month decline against its major counterparts after snapping its 6-year uptrend and sliding into oversold territory for the second time this year.

Japanese Yen Index** Daily Chart

JPY Index daily chart created using TradingView**JPY Index averages CAD/JPY, EUR/JPY, AUD/JPY, GBP/JPY

Directed lower by the downtrend extending from the yearly high set in March, JPY crashed through its 2014 uptrend earlier this month before finding support at the February low.

Although RSI divergence suggests a degree of underlying exhaustion in the recent downtrend, the oscillator continues to track below 30 and in oversold territory. This could be indicative of further losses in the near-term for the Japanese Yen.

However, with the February low capping the downside for the time-being a corrective rally to test the March downtrend may be likely in the coming days.

The development of the trend-defining 50-day moving average also hints at a potential correction, as it notably flattens out after crossing below its ‘slower’ 200-period counterpart.

Nevertheless, the path of least resistance for the ‘safe haven’ currency appears to be lower, with a break and close below the February lows needed to validate bearish potential.

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EUR/JPY Daily Chart – Rising Wedge Pattern Threatens Uptrend

Japanese Yen Price Outlook: EUR/JPY, AUD/JPY Levels to Watch

EUR/JPY daily chart created using TradingView

A Hanging Man candle just shy of the April 2019 high (126.80), combined with significant RSI divergence, could signal the end of the EUR/JPY exchange rate’s 10.8% surge from the May low (114.39) to set a fresh yearly high on August 13 (126.75).

With price appearing to have carved out a bearish Rising Wedge pattern over the last 12 months, a substantial break to the downside could be in the offing if sellers can snap the exchange rate’s 14-week uptrend as well as support at the June high (124.43).

That being said, the positive steepening of the 50- (122.85) and 200-DMA (120.88) suggests an overall shift in sentiment from bearish to bullish and could see any pullback in EUR/JPY rates significantly supported by an influx of buyers.

Therefore, although price seems poised to slide back to support at the May 2019 high (125.23), extended declines may not eventuate should key psychological support at the 125 level remain intact.

A decline may allow EUR/JPY to shake off overbought readings on the RSI and regroup for a push to fresh yearly highs, if buyers can smash through resistance at the monthly swing top (126.75).



of clients are net long.



of clients are net short.

Change in Longs Shorts OI
Daily 17% 5% 10%
Weekly 32% 16% 22%

AUD/JPY Daily Chart – Triple Top or Ascending Triangle?

Japanese Yen Price Outlook: EUR/JPY, AUD/JPY Levels to Watch

AUD/JPY daily chart created using TradingView

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AUD/JPY rates appear to have carved an Ascending Triangle pattern at key resistance, with a series of lower lows and stagnant highs signalling that sellers may be running out of steam as they attempt to defend the psychologically pivotal 77 level.

Moreover, the RSI looks to be gearing up for a push into overbought territory as it hovers in bullish territory above 60 and could stoke buying pressure if it breaks above its downtrend extending from yearly extremes.

Overbought readings would probably coincide with AUD/JPY climbing above key resistance at the June high (76.78) and potentially validate a topside break of the bullish Ascending Triangle continuation pattern.

An implied measured move suggests price could push to test the 81 level for the first time since April 2019.

Conversely, a break of trend support would invalidate the bullish pattern and could ignite a pullback to the 200-day moving average (73.15) and 61.8% Fibonacci (72.72).



of clients are net long.



of clients are net short.

Change in Longs Shorts OI
Daily 0% 13% 8%
Weekly 6% 12% 10%

— Written by Daniel Moss, Analyst for DailyFX

Follow me on Twitter @DanielGMoss

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Economy

Everything has been delivered. 10 Bugatti Centodieci are already in the hands of the owners

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Everything has been delivered.  10 Bugatti Centodieci are already in the hands of the owners

OAll Bugatti Centodieci have been delivered, the Molsheim-based brand said on Monday. Cristiano Ronaldo received the number 07 in October this year. and Bugatti has now revealed that the latest unit – #10 – is already in the possession of its owner.

“The Centodieci combines all the values ​​of the Bugatti brand in an extraordinary package: rarity, innovation, heritage, craftsmanship and unrivaled performance. The production batch of 10 units was so in demand by our customers that it was sold before the Centodieci. was even officially presented,” said Christophe Piochon, president of Bugatti.

This latest example is finished in Quartz White with carbon fiber trim on the bottom and matte grilles. The brake calipers are painted in Light Blue Sport, as is the logo on the rear that refers to the EB110, the iconic Bugatti model that inspired this Centodieci. Inside, the predominant color is also blue, as you can see in the images above.

This block is powered by the same block as the other nine instances. The 8.0-liter W16 with four turbines is capable of developing 1600 hp. In terms of performance, this allows the Centodieci to hit 100 km/h in just 2.4 seconds and reach a top speed of 380 km/h.

Recall that each unit costs the owners eight million euros before taxes.

Read also: We already know when the Bugatti Centodieci fell into the hands of Ronaldo.

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Economy

The first Dacia hybrid. “The cheapest hybrid family on the market”

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The first Dacia hybrid.  "The cheapest hybrid family on the market"

BUT Dacia revealed this Monday that the hybrid engine has been available since March on the Jogger, the Romanian brand’s model known to be available with a seven-seat variant.

The Jogger Hybrid 140, Dacia’s first hybrid, will hit dealerships in March, but customers can expect and order it as early as January.

The price has been revealed by Dacia and since it’s only available in the seven-seater SL Extreme, it starts at €28,800. The brand claims it is “the most affordable hybrid family car on the market.”

Available in six existing colors to celebrate the launch of this hybrid, there will be a slate gray version, as you can see in the images above.

Equipped with a 1.6 liter four-cylinder petrol engine with 90 hp, the Jogger is also powered by two electric motors (a 50 hp engine and a high-voltage starter-generator). The total power is 140 horsepower. The electric transmission is automatic, four-speed, connected to an internal combustion engine, and two speeds are connected to an electric motor. This combined technology was possible, according to Dacia, only due to the lack of clutch.

Combined with the energy recovery levels of the 1.2kWh (230V) battery pack and the efficiency of the automatic transmission, regenerative braking delivers all-electric traction on 80% of urban journeys and saves up to 40% of fuel compared to a combustion engine vehicle.

Read also: Dual-fuel Dacia Jogger Eco-G. We tried 5 seater and LPG…

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Economy

See how Tesla tests its electric Semi truck in the worst-case scenarios

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Tesla Semi camião elétrico testes

Tesla has finally been able to bring its long-awaited Semi to market. This electric truck promises to revolutionize transportation and bring all the unique characteristics of this type of electric vehicle to this class of vehicles.

Now that the first units have been delivered, there is hope that they will finally be mass-produced and reach more transport companies. With so many promises to be kept, a new video is now emerging showing Tesla testing its Semi truck under worst-case scenarios.


Tesla Semi is already on the market

Like all Tesla electric vehicles, Semi follows the same line of creating a unique design associated with a platform with the most modern technology available. The proof is in what was presented to the public and surprised most people.

To prove the quality of this new proposal, Tesla published in your LinkedIn account new video. In it, he reveals some of the testing he's done to determine the strength and quality of the Semi's design and its (potential) durability.

Tests to prove its durability

It has been revealed that the Tesla electric truck is subjected to numerous tests and its application in the worst scenarios that drivers may face. It doesn't stop at the ruggedness of the Semi's designs, but goes further and focuses on the motors and batteries themselves.

This is the proof that many have been waiting for to ensure that this new proposal is not limited to a lot of autonomy. Its resistance is great and will provide greater durability, further enhancing the Semi's value and performance.

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high quality electric truck

Tesla has already showcased the Semi's quality with a video showing its truck driving roughly 500 miles on just one charge. The big news here is that he managed to make this long journey with a maximum load of about 37 tons.

Now Tesla remains to widely place the Semi on the market. At the moment, only a few companies have access to this new product, with a very long list of pending deliveries, who want to start mass-using this electric truck offering.

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