AUDJPY Shorting Possibilities

FX:AUDJPY   Australian Dollar / Japanese Yen
AUDJPY has a lot of shorting potential at the moment, however any position we are going to take needs to be confirmed due to the subjectivity of the trades on offer - meaning I am expecting an overall selling direction but there are more than a couple of things price can do first which can be seen on the chart.

Sell any breakout as and when it occurs - this is not my ideal setup but one I would like to get into IF it occurs before our other, more idealistic setups which I am going to mention now:

My ideal setup consists of either getting in short at the red resistance level or, preferably, at the higher trend line at sell zone 2. The latter of the 2 will give us more confidence that price wont continue up any further allowing for tighter stops and better RR = more profitability.

We will be expecting a breakout of this downtrend in the future (we have a lot of divergence on the daily to suggest this is the case) just like on other JPY pairs however we will not be looking for this long set up yet.

As usual, take trades only after confirmation & good luck!
Comment: Consolidating price action, short still on.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out