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Setupsfx_
Apr 17, 2024 12:47 PM

AUDJPY: Targeting 104.00 Swing Trade, First Target is 101.00 Long

OANDA:AUDJPY120
AUD/JPYOANDA

Description

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AUDJPY price is currently trading within the bullish channel and it is likely to continue being bullish. Both technical and fundamental supporting AUD to remain extremely bullish in coming days whereas Yen is likely to drop heavily in upcoming weeks which will help us to target 101 and then 104. Use accurate risk management to get most of the result.

Trade active

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News took out the liquidity still the trade was valid. Right now moving well, 130+ pips.

Trend AnalysisChart PatternsFundamental AnalysisAUDJPYaudjpylongaudjpyanalysisaudjpyideaaudjpydailyaudjpybuyaudjpyforecastaudjpysignalaudjpytrade
Comments
JoeChampion
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More likely to fall due to JPY strength, plus AUD is weak now following the bearish momentum on stocks!
Setupsfx_
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@JoeChampion let's see mate
DXRKCLOUD_FX
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I'm also in a long position on this pair. 4H is bullish so I'm more comfortable going long in the 15M.

But I've always reminded myself that the JPY pairs suffer from schizophrenia so anything can happen ✌🏿
Setupsfx_
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@DXRKCLOUD_FX true you have to be extra cautious while trading the majors pair such as jpy.
DXRKCLOUD_FX
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I've not seen a single person who was looking at a buy trade on this pair that wasn't killed by that liquidation.

Still, good call 🤙🏿
Setupsfx_
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@DXRKCLOUD_FX thanks mate
parawolf89
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I do think 🤔 this could be but would and if the Japanese intervene wouldn’t it affect all the pairs? I know it wouldn’t stop it in the long run.
Setupsfx_
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@parawolf89 yeah you were right it took out the sell side liquidity and bounced back. Idea was invalided.
TheGrove
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I'm with you on this one!
Setupsfx_
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@TheGrove great let's see how it goes
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