Fxprotrader
Short

AUDJPY Waiting For The Next Impulsive Wave Down

FX:AUDJPY   Australian Dollar/Japanese Yen
659 17 33
Price is in a corrective structure better seen at the lower timeframes after that big impulsive drop. It may take a while but if price reaches the key level a i have drawn in the chart we should start watching for a sell setup to catch the next impulsive wave to the down.

On the way to that level we might have buy opportunities in this correction. I will update if i identify any setup
Comment: Price has entered the sell zone. Watch for a sell setup to complete
Do you think it will break to new lows (<72) seen for the last time in 2008?
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This idea is a week old, but I wanted to ask: Do you still expect the downtrend to break past low levels and descend bellow 74? Thanks trader.
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yes, i expect JPY pair to sell off
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fxfxfx Fxprotrader
would you recommend to go LONG at a potential @72.5 area expecting a change in the trend?
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You should have a great reason to go against the trend. So i believe it would be a good idea. But if you have a long setup based on your analysis you may buy..! Good luck :)
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fxfxfx Fxprotrader
I am selling atm. I was asking at what level would you expect a reversal for the next LONG, either short or long term
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Another possibility.

Potential Bearish Cypher


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I believe you chose you X point wrong, in the middle of a wave.. But let's see, it might work ok. Thank you for sharing..
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mustard Fxprotrader
Maybe, taken from my weekly chart.

Bearish Cypher
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This is a nice one, good luck
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