AUD/JPY Short on Head and Shoulders Stop Loss: 89.000 Entry: 88.580 Target Price: 86.820 Risk to Reward Ratio 4.0
Looking for a good entry/pullback up to the 89.00 area.
Double Tops pattern spotted on AUDJPY which has been on a strong uptrend. Price cannot break the peak anymore and lower highs are formed plus a strong break of the 20 SMA. Strong positively correlated pairs such as CADJPY and NZDJPY have already started the possible downtrend. RSI Divergence is also spotted on AUDJPY as marked on the chart. This might be a good...
AUDJPY seem to be completing a harmonic pattern. This is clearly not my field, but it's a good information for a short possibility. There is still some upside potential but it doesn't have to reach 87.400, 87.000 could also be a point of reversal. The 50MA has crossed over 200MA to the upside which can indicate a upside potential. The bulls is showing strong...
AUDJPY is up again visiting a critical zone where the next move can change the direction of the price or just continue higher. I would like to watch this trade closely, either to look for pullbacks to sell or go long if the sell is stopped out. The price is in a rising wedge so a breakout to the upside might happen this time or next time it goes up to current...
Possible short opportunity after a successful close under our white line in 4hr TF.
Wait for the price to break above the trend line and make a retracement/pullback (as shown in figure). Follow me on Twitter: twitter.com Like me on Facebook: www.facebook.com
Hi Seildev here Area of interest to short around 85.05~85.21 - Almost reaching topside resistance channel since 1st/May - Possible double top? 2nd/May and 15th/May shows double top down to 260 pips gains - 85.00 psychological number - 85.00 respected support and resistance historically - 61.8% fib approaching for potential reversal Target 1 @ 83.857 Target 2...
Sell below 85.06. Stop loss at 05.25. Take profit at 84.38. Reason for the trading strategy (technically): Price is approaching major resistance at 85.06 (Fibonacci extension, horizontal swing high resistance) and we expect a strong reaction from this level for a drop to at least 84.38 support (Fibonacci retracement, horizontal overlap support). Stochastic...
One of the possible direction for AUDJPY . Let's see how it's played it self out.
Last time, the AUD/JPY trade did not qualify. But it's better to be in the sideline rather than loosing right? This time, the trade is already qualified . We can enter now. Confluence of Support: # Equidistant Channel Support. # Multiple Bullish Harmonic Pattern Support. # Pitchfork Support. Confirmations for Entry: # MACD Regular Bullish Divergence. #...
Possible right shoulder formation if resistance is strong enough to push the pair down.
Sell below 82.94. Stop loss at 83.22. Take profit at 81.92. Reason for the trading strategy (technically): Price has bounced off our buy entry perfectly yesterday and has risen strongly towards our profit target. We prepare to sell below major resistance at 82.94 (Fibonacci retracement, horizontal resistance) for a push down to 81.92 support (Fibonacci...
*pun intended* With the continuing decline of the Aussie despite the higher ups of commodities, the pair has been struggling to push to the upside against a safe-haven currency. The same is occurring with AUDCHF considering that the Swiss Franc is also a safe-haven currency. Last trading session, the AUDJPY pair formed an inside pin bar which may suggest a...
Buy above 81.90. Stop loss at 81.67. Take profit at 82.90. Reason for the trading strategy (technically): Price has dropped perfectly to our buying area and bounced off perfectly. We remain bullish above major support at 81.90 (Fibonacci extension, horizontal swing low support, bullish divergence) and we expect a strong bounce above this level to at least 82.90...
Buy above 81.90. Stop loss at 81.67. Take profit at 82.53. Reason for the trading strategy (technically): Price is approaching major support at 81.90 (Fibonacci extension, horizontal swing low support, bullish divergence) and we expect a strong bounce above this level to at least 82.53 resistance (Fibonacci retracement, horizontal overlap resistance). Stochastic...
Several Yen pairs have formed inside bars which may suggest a reversal of the trend. However, some are already on the decline like my previous trade analysis: EURJPY.