AUDJPY broke and closed below the resistance at 95.000, which is psychological as well.
The market also broke the ascending channel, indicating a trend shift.
Price at confluence level, where resistance is at 95.000, dynamic resistance and fibo level 50.0%.
We expect a bearish move from the confluence.
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Price has broke below a key support and has now broke a trend line after a minor pullback on what looks to be a down trend. price has retested the trend line and should go down. 2-1 rr trade.
Once again we saw AUD/JPY rally above 96 before reversing lower, which is a pattern we have seen occur four times since January 2022. A shooting start reversal formed on Friday and the cross fell around -4% Tuesday’s low, breaking a bullish trendline before finding support at the 200-day EMA, February high and 96 handle.
We’ve seen two modest up days since,...
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In This Chart AUDJPY HOURLY Forex Forecast By FOREX PLANET
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AUDJPY broke the lower trend line on the 4 HR time frame, there was a re-test on the minor support in the 4-hour timeframe chart as well,
We expect the pair to re-test the key support levels listed on the chart,
We taking this trade based on technical analysis and candlestick patterns.
Please use proper risk management depending on your account size, Use lot...
break trend lend trade. waiting for it to return to the trend line and resistance level for entry then getting in with a sl above resistance for a 3-1 rr trade.
AUDJPY
- Classic bullish setup
- Our team expects bullish continuation
SUGGESTED TRADE:
Swing Trade
Long AUDJPY
Entry Point - 94.231
Stop Loss - 93.630
Take Profit - 95.353
Our Risk - 1%
Start protection of your profits from lower levels
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Currency pair is trending in a bearish direction with series of LHs and LLs. Recently it has made a bearish continuation pattern - A Bearish Flag. Breaking below the flag will indicate continuation of bearish trend and short positions may be opened.
-- 30-Minute Chart
The AUD/JPY pair is currently trading in a narrow range on the 30-minute chart. The pair is facing resistance at the 94.20 level and support at the 94.00 level.
The RSI indicator is currently in overbought territory, suggesting that the pair may be due for a pullback. However, the MACD indicator is still generating bullish signals.
-- 4-Hour...
AUDJPY has been making NEW Higher Highs and Higher Lows in the CURRENT market. This is a great indication that what we have been seeing is a CORRECTIVE WAVE of the previous RALLY the market gave us.
As we we can see AUDJPY is settling on the 61.8% Fibonacci with a POTENTIAL Double Bottom forming on a Daily Time Frame.
If we see the market have bullish momentum...
H4 - Most recent uptrend line breakout.
Lower lows.
Expecting short term bearish moves to happen here.
H1 - Bearish trend pattern.
Currently it looks like a pullback is happening.
Until the strong resistance zone holds I expect the price to move lower further after pullbacks.
Yesterday, like all the Jpy pairs, AudJpy was also affected by the verbal intervention from BoJ.
The pair dropped quickly 200 pips, but more importantly, it broke under important confluence support at 95.
This level is offering now a good resistance point and, with the pair in recovery at this moment, rallies should be sold.
In conclusion, prices close to 95 are...
The Australian Dollar (AUD) against the Japanese Yen (JPY) is an exciting pair for its relation to risk. The pair is often among one of the most highly correlated pairs to price action in US equities on a short to medium term basis. The pair generally tends to rise in a low risk environment on carry flows while the opposite is true when we see a 'risk-off'...
I have been monitoring this pair for some time now and noticed that it is coming into some interesting territory.
We can see this pair testing recent all time highs and showing massive rejection in the form of a long wick rejection candle. I would've liked to see the body of the rejection candle close bearish in favour of the signal but we can still see some...
