ChaosTrader63
Short

JPY Pairs are Copy Cats

FX:AUDJPY   Australian Dollar / Japanese Yen
191 views
1
Looking at the AUS vs JPY you would think this post was a repeat but it's not! The AUD vs JPY is a mirror image of the NZD vs JPY daily chart . With this chart we can get some clues on the NZD vs JPY. Both moves began last June with the AUD vs JPY starting @ 74.487 and topping off @ 105.446. On the monthly time frame the pair was about 1200 pips away from the Kijun before it started to make a corrective move downwards. The correction of 50% would place us right at the monthly Kijun support level . When the market gets to far from the Kijun a correction is in place to equalize the market. It appears that the correction is in progress. On the daily chart shown you can see how price broke out of the Kumo but retraced right back to the bottom of the Kumo resistance level and proceeded downwards. This is also what were looking for from the NZD vs JPY. I would love to see a slight pullback and then I expect this pair to find a resting place at the monthly Kumo.

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out