Should expect if .7940 holds. Quite a huge stop for me, so am just on the sidelines here. Would like an entry at .7955 if we get down there again today. Thought process for today trading though.
The AUD/JPY continues to climb as expected in my prior analysis An uptrend in AUDJPY . A r(0.946) linear regression that started in October suggests that the Aussie will continue to gain ground against the Japanese yen (green arrows). Note that stochastic analysis is just entered the 20-80 zone suggesting that the trend may be over if a series of lower-highs...
If price breaks down and I can establish a clear or clear(ish) b wave I'm going long and setting up possible sell limits. Thanks for checking this out! Have a good trading week!
Here is a good chance to go long on AUDJPY. On 10/24 the price tested and broke the r(0.937) linear regression of the last 8 months. Taking a closer look into the chart we see a clear and systematic uptrend. --- "It's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong. " - ...
AFTER A CONSOLIDATION PRICE SHOULD HIT THE 77.963 LEVEL AND RESISTANCE TREND LINE. PRICE SHOULD FALL TO 75.361 LEVEL. PLACE A BUY AT 75.361. STOP LOSS 73.472.
Long AudCAD on 4hr/daily break to upside. daily timeframe is better for this one because it has been consolidating more extremely on smaller timeframes.