Difficult to see continued strength in aussie yen. Aussie pairs may be getting stronger, looks like a deeper correction may be in store for aussie yen. I would look for some kind of sell, perhaps steer clear.
Price is struggling at weekly resistance price has broken below the weekly indecision candle Could see a reversal down to previous weekly support
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.
The AUDJPY is forming a solid Gartley pattern on the 4H chart. It's in the process of forming a bullish formation which we will be able to initiate a long trade at or near point D. This could take a day or two to unfold, if the pair decides to rally without coming down close to point D the order will be cancelled. We will be looking to take this pair long at...
*Position Update: On 05/05/2015 we liquidated both sides of this correlation trade with a profit of 73.1 Pips while taking advantage of the correlation spread narrowing after the interest rate decision in Australia. A nice correlation trade is setting up between AUD/JPY & CAD/JPY. The spread in the correlation is currently 200 Pips, over the past year the max...
Market has over extended in many ways. Will be shorting at 92.70 levels for 91.80 limits. Great reversal structure in play. Confirmed a-trade and follow through to other setups. www.forexshrink.com
AUDJPY has been in a downtrend for months due to a weakening Oz economy (in recession). The Aussie has strengthened this year climbing to the 0.50 retracement of the last downswing. The current upswing has taken out intermediate supply on its way up and is now getting to the 0.618 level which coincides with an intermediate supply zone @ ~94.160. the rally into...
We can see a potential cypher is forming on 4H TF AUDJPY which is completing around 95.70 area. We may sell this pair from 95.70-90 area targeting 93.40 & 92.50 as TP2.