I think that AUDJPY made ABCD points in H4 Timeframe in past and now it is moving upside for point E but this is not an intraday trading idea, you can hold long position for this week and or few days more buy at the end you will get success.
In my opinion, after the price reaches the demand zone, the price can go up to the set range
AUDJPY Buy Limit
Entry : 91.486
TP : 93.484
Good Luck and as always, trade safe!
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Anticipating further AUDUSD weakness, this could take the AUDJPY lower as well.
Despite general Yen weakness, the Yen has found some strength over the past trading sessions as markets increased concern over a global recession, which could have led to the increase in demand for the safe haven currency.
The AUDJPY tested and rejected the 92.50 resistance level,...
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✅AUDJPY has reached the resistance level. The price bounced has already bounced down. ✅
🚀 SELL scenario: short to the support level.🚀
Remember, there is no place for luck in trading - only strategy!
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Audjpy has reached a confluence, am waiting for breakout to go short.
Tp 1 should be paid close attention for possible reversal.
Targets on chart.
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✅AUD_JPY will be retesting a resistance cluster soon
From where I am expecting a bearish reaction
With the price going down but we need
To wait for a reversal pattern to form
Before entering the trade, so that we
Get a higher success probability of the trade
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Here is our technical outlook for AUDJPY.
Our analysis is based on current market fundamental sentiment.
According to our chart AUDJPY is coiling on resistance cluster.
Based on our stand point the price will go lower
to the next support level.
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AUD-JPY broke out of the bearish triangle
And went down just as I predicted
In my previous analysis
Now the pair is making a rebound
To retest the supply area above
But I am still bullish and I believe
We might see further price decline
During the next trading week
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AUDJPY on the 4h chart on last Friday broke below the support area at the 93 level.
The market is now looking for a retracement and a possible retest of the 0.382 Fibonacci level.
How can i approach this scenario?
I will wait for a retest of the resistance level and at that point if the price will provide an inversion i will check a potential short order...
Looking at the AJ pair last week we saw the downpour and breakout of the wedge between the trends. so far price is currently in retrace & re-test mode.
I am looking for a touch of 93.560 or .382 retrace mark, if I see volume sellers & or a rejection pattern I will look to enter shorts. Next level up would be the .50% retrace mark