Technician
Long

AUDJPY: Going For a Potential Bounce!

FX:AUDJPY   Australian Dollar/Japanese Yen
1352 17 16
*Update: Stopped out..
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I just initiated a long, I was waiting for a confirmation for a long following last week hammer candle, unfortunately ui didn't get that confirmation on a lower price. So i just bought on a break and retest to a horizontal resistance at 96.80 area. Also the price has broken out and settled above the 200-days SMA . Lets see how this one goes..


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I'll wish you best of luck mate.
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Technician TOP HamedAghajani
Thanks
Reply
good call, some puff remaining :-)
snapshot
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Haynes6EU jangseohee
Hi Jangseohee,
You mean the pair AUDJPY will fall down sharply in the next few months? Not now?
Thanks,
Reply
jangseohee Haynes6EU
Hi Haynes, every trade carries a risk. TO minimize the risk I will only launch a massive attack on the "Ëdge"
As you can see price is currently moving in monthly uptrend. In the short term, I am quite confidence that price would like to get squeezed into the darker blue triangle..
and then whether price can break the resistance and continue up or break the support and drop down, that I will have to monitor. :-)

Just observe what happen to the price when it broke the uptrend support in 2007!
+1 Reply
Haynes6EU jangseohee
I saw the price is quite same to 2007. I try to map the monthly chart with fundamental situation and quite confident that price would fall down sharply. But my question is WHEN? it too soon for me now? Thanks
+1 Reply
On the way of Hit Stop Loss... :(
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Stopped out
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coondawg71 PRO Technician
You may be right, just early. That is my number one mistake.
Reply
snapshot
This very well may be the next big "surprising" victim.
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coondawg71 PRO coondawg71
snapshot


@Technician I've got next week and the following week measuring to be crucial. Heavy volatility expected.
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I think AUDJPY can continue down!

wave 3 and 4 are noise and I believe more in wave 4 is complete,
then it should fall further down towards the target of around 88,7xx.
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nappenbir nappenbir
AUDJPY
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My long was stopped out, but the hammer support is still intact. For me, a break below the hammer low is required to negate the bullish bounce scenario.. Good luck mate
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nappenbir Technician
snapshot
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jangseohee nappenbir
it takes time.. be patient :-)
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