AUDJPY reached 38% fib lev with trendline and resistance confluence, good short opportunity
AUDJPY - capped by the downward trendline. Short at 75.40 TP : 73.50 SL : 76
Audjpy - daily chart - expecting a deep swing lower on this pair as aussie dollar weakness.
Selling a clip of AUDJPY here at 73.86 ahead of the 73.94 pivot and breakdown area that held on Friday. As long as 74.45 fibbo resistance holds, I remain a seller of the rallies going into the RBA meeting. RSI indicates that the market is overbought and the momentum should start to turn towards the downside. I will sell a 2nd clip around 74.10 if we get there....
AUDJPY bounces off the lows however there is strong resistance around the 74.10 level. so my strategy remains the same (sell the rally's). I will sell a second clip around the 74.10 mark if we are to get there with a stop around 74.35 for all. Short 1 @ 73.87 SL: 74.35 TP: 73.13 (fibbo support)
Hello Traders, Here is the Top-Down Analysis of AUDJPY (Monthly, Weekly, Daily for direction and 4H for entry) for Week 44 - 26 Oct M > Price reached monthly support/ supply zone creating W formation on its way up. Price dropped to test the neck and continued to drop further to test weekly support level. However after a huge impulsive move we expect price to...
AudJpy is in a clear downtrend and, as said yesterday, rallies towards 75 should be well caped by bears. The pair is trading for the 3rd time in 74 zone support and I expect a breakdown sooner rather than later. My target for short is 72.50 and I will remain bearish as long as the pair stays under 75
AudJpy is trading in a very tight range for a few days now. The trend is down and I believe the break will be to the downside and will assist a continuation under 74. I'm bearish this pair as long as the price is under 75
Elections could make things pretty messed up so be careful.. AUD gained serious momentum as JPY getting weaker but technically correction is completed. If 76 rejection zone breaks then proper BULL RUN will occur. 74 seems to be a Demand zone.
I believe this pair will go down with an opportunity for swing short ad discussed in above chart. Do your DD, apply your edge, and act accordingly. Best Luck
Price is testing a monthly support. The market is currently printing a consolidation pattern. RSI is printing a bullish divergence signal. Breakout is imminent. Possible price actions indicated.
This is an opportunity I missed overnight, this would of been a nice trade to take. Price created a higher low and a kicked in with some bullish momentum, which would of been the best time to enter a position. Unlucky but we move onto the next!
For a few days now AudJpy is consolidating just above 74 zone support. The combination of weak AudUsd and strong Jpy is not good for the pair and we can see a breakdown sooner rather than later. I expect gains to be well caped on 75 zone and the pair could drop to at least 72 and even 70 in the medium term Look to sell rallies under 75
Plan: resistance level breakout --> wait for the price to bounce off from support level --> wait for the rejection candle pattern to form e.g. bullish engulfing, pinbar, etc --> BUY **Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent...