Weekly Forex Forecast (May 29 - June 2)
AUD/JPY - H4 Chart - must need to break channel
Always wait for strong Conformation in Short term for entry. 👈👈👈
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SWING Trade - AUDJPY
This is an interesting pair to watch because price had tested the Weekly supply zone a lot of times yet it is holding. Overall price has over-heated, and it seems the zone is still holding well due to an overlapping Supply zone on top of it.
Hence, to look for SELLS again as the price does not seem strong enough to pierce through. This is...
Here is my view for AUDJPY on H1. The price could go bearish, you can put a pending order on the Order block or find an entry on LTF within OB Zone. Trade Safe!
Short From: 92.281
Stop level : 92.378
TP 91.620
Dear Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad
Hello guys
This pair has been forming a falling flag, a major indication of bullish momentum, but it is in the earlier stages of formation. I anticipate that the market will continue with the formation, according to the higher timeframes.
My entry point is at 90.7 with stop loss at 91.7, and I am targeting a 1:5 R:R ration for this trade.
Remember, risk only 1%...
There are many reasons to like this trade.
1) AUDJPY is overbought on H4. It showed a strong reaction at 92.25 and dropped.
2) It has made a double top on H4 with divergence.
3) There is a big pattern to sell.
4) There is a M15 sell pattern as well.
The move at a minimum should be aiming for 91.40 and then hopefully lower.
Good luck!
AUD/JPY has retraced from the resistance level at 92.35 area. Along with that, we also have the formation
of a bearish reversal candlestick pattern in the resistance level. So, it is possible to see more fall in
AUD/JPY towards the 90 level. My recommendation is to sell the rallies in AUD/JPY as long as price
stays below the resistance level
AUDJPY in a potential daily trend change. Risk off is on the table. Traded 50% short on Friday morning in NY and sold off pretty much all day. A 2nd chance short at 50% HWB short 91.90 would be a gift. If stocks keep selling off though, would expect it to head down to the 91.262 early in the week.
Pretty much everything is aligned in favor for this pair to post significant loses in the near future. (Including the sentiment indicators which are in firmly bearish territory!)
E.g., Fade the rallies!
- China's reopening is a dud - to say the least -, more importantly, with substantial long term implications;
- The commodity picture is strongly DEflationary,...
nice down move we caught but now aj is failing to break that last low making a higher low so a breakout of this channel and retest can push this towards the 91.600-91.850
trend is down 15 min retest on the order block pushing towards higher time frame liquidity level just need 91.100 area to hold and this can be a nice size move down
#AUDJPY
These days, AUDJPY is slightly UP due to MARKET RISK ON. The reason for that was that the MARKET SENTIMENT was somewhat POSITIVE with FED UPDATES. JPY WEAK AFTER BOJ MEETING.
Because of that, XXXJPY CURRENCIES went UP very fast. It still has an effect. Anyway, they said that the BOJ MONETARY POLICY will be relaxed even more.
Therefore, after JPY...
Here is my analysis for a potential short position I have taken on AUD/JPY.
The original analysis was spotted on the M15 chart showing a large RSI divergence, However the main analysis was done on H1 graph.
My Reasoning for this short is:
- Large RSI divergence on both M15 and H1 graph.
- Large Supply zone hit where a lot of retracements have been before.
-...
AUDJPY - 24h expiry
The downward trending resistance line at 91.30 should provide the ideal target and fade level as medium term bears build positions into the current strength.
Previous support level of 90.50 broken.
The trend of higher intraday lows has also been broken.
Further downside is expected.
Risk/Reward would be poor to call a sell from current...
