FX:AUDJPY   Australian Dollar / Japanese Yen
103 5 2
As the sellers show first signs of weakness, there's just another long opportunity. Not much to come by, but at least the previous high of Sep. 10th is expected to be matched.
That worked rather well :) What made you think it would break higher - the support on the lower sliding parallel?
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ForceFollower cryptoyoda
Thank you. It was:
1) AUD's recent overall strength,
2) JPY got recently too strong for its general weakness,
3) the break of the red downsloping sliding parallel (the one in the middle),
4) no new lows for a long time - failures tell a lot,
5) your guess - the lower blue sliding parallel.
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I don't agree with TraderWGun that it is the weak EUR that drives USD/JPY up. I think that it is a beginning correction of the Yen-pairs.
So I agree with your AUD/JPY-Chart and buy EUR/JPY by myself.
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ForceFollower motleifaul
If the common factor between EUR/USD and USD/JPY, which is USD, starts to recover and gets stronger, then we may be in trouble. But the long-term weak yen, has been extremely strong since the beginning of October and I agree with you that this strength is about to give way to the long-term trend, and I bet on it against NZD, AUD, GBP and CHF (I don't feel that bullish with the yen pairs against CAD, USD and EUR, but they may go up in the wake as well).
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motleifaul ForceFollower
Seems you are right.
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