FX:AUDJPY Australian Dollar/Japanese Yen
I see AJ in a channel with a beautiful morningstar providing us with the upmove off the bottom of the channel We were preparing to take this long as it broke a line at 81.84. The structure did not set up so we were not in the trade long. Instead, we now a daily close in the formation of a dark cloud cover. I am looking for additional selling on this, possibly some sideways action and then a retest of the below.
Trade active: I took one bounce off the pivot line and am looking for structure here for the second short.
Trade active: First one off for break even. 40 pips so far.. Pull stop to break even. Thanks!!
Trade active: Test the morning star. If you on from the pivot keep going.
Trade closed: target reached: Support here from the last move north.. Take profit or remove partial. Yens could fall further but lots of support here at 80.48. This was a great trade.
Trade closed manually: Look for sideways movement as yens may take a little breather this afternoon. Check asian session to see if bears continue the trend on yen selling for the next 24 hours.
Trade active: Just a reminder of the current structure on AJ. Hence, I have had nothing except bull status for the last several weeks. I am getting a lot of private messages and yes, I do see the double top and will do a new chart on this prior to nonfarm tomorrow (April 1). If you are long and cannot ride this, just flatten or pull profit! Not a tough decision. I was looking for 87 and higher from more recent charts. Obviously we have not gotten there, but I think this chart illustrates why one should not panic and the potential for longs and shorts within structure. AJ is an easy pair to find support/resistance within structure and is the easiest of the yens to trade.
Hi Hope thank you for your posts still learning i would like your opinion on something with 2 aussie pairs i seen the posts about a dark cloud cover on the audjpy daily chart and its a little over 50% of the previous candle and on the audusd daily chart the dark cloud clover is greater than 50% of the previous in your opinion do you think the audusd will be a better sell opportunity than the audjpy