Take Profit 1 - 94.36
Take Profit 2 - 93.86
Take Profit 3 - 93.36
Stop loss - 96.16
here is my more in-depth analysis of AUDJPY:
The AUDJPY pair has been in a bearish trend for the past few weeks, and it is currently trading near the bottom of its range. The current spot rate is 95.16, and a sell entry point of 95.16 is just above the recent low of 94.96.
There are a few reasons why AUDJPY could continue to fall in the near term. First, the AUD is generally seen as a commodity currency, and it has been weakening against the JPY in recent weeks as commodity prices have fallen. Second, the Bank of Japan is expected to continue to pursue an ultra-loose monetary policy, which could put downward pressure on the JPY. Finally, the Australian economy is facing some headwinds, such as the war in Ukraine and the slowdown in China's economy. These headwinds could weigh on the AUD and lead to a decline in the AUDJPY pair.
Technical analysis:
From a technical perspective, the AUDJPY pair is trading below its 200-day moving average, which is a bearish signal. The pair is also forming a bearish descending triangle pattern, which is a continuation pattern that typically leads to a breakout to the downside.
Fundamental analysis:
The Australian economy is facing some headwinds, such as the war in Ukraine and the slowdown in China's economy. These headwinds could weigh on the AUD and lead to a decline in the AUDJPY pair. The Japanese economy is also facing some headwinds, but at a slower pace than the Australian economy. This could lead to a relative outperformance of the JPY against the AUD in the near term.
Risks:
There are a few risks to consider before entering a trade on AUDJPY. First, the global economy is facing some headwinds, such as the war in Ukraine. These headwinds could weigh on risk appetite and lead to a decline in the AUDJPY pair. Second, the Bank of Japan is expected to continue to pursue an ultra-loose monetary policy, which could put downward pressure on the JPY. Finally, the Australian economy is facing some headwinds, such as the war in Ukraine and the slowdown in China's economy. These headwinds could weigh on the AUD and lead to a decline in the AUDJPY pair.
Overall:
I think AUDJPY is a good pair to trade for those who are looking for a short-term bearish trend. However, it is important to remember that the forex market is volatile, and there is always the risk of a reversal. You should always do your own research before entering any trades.
Here are some additional factors that you may want to consider before entering a trade on AUDJPY:
The economic outlook for Australia and Japan.
The level of volatility in the forex market.
The price of risk assets, such as stocks and commodities.
Take Profit 2 - 93.86
Take Profit 3 - 93.36
Stop loss - 96.16
here is my more in-depth analysis of AUDJPY:
The AUDJPY pair has been in a bearish trend for the past few weeks, and it is currently trading near the bottom of its range. The current spot rate is 95.16, and a sell entry point of 95.16 is just above the recent low of 94.96.
There are a few reasons why AUDJPY could continue to fall in the near term. First, the AUD is generally seen as a commodity currency, and it has been weakening against the JPY in recent weeks as commodity prices have fallen. Second, the Bank of Japan is expected to continue to pursue an ultra-loose monetary policy, which could put downward pressure on the JPY. Finally, the Australian economy is facing some headwinds, such as the war in Ukraine and the slowdown in China's economy. These headwinds could weigh on the AUD and lead to a decline in the AUDJPY pair.
Technical analysis:
From a technical perspective, the AUDJPY pair is trading below its 200-day moving average, which is a bearish signal. The pair is also forming a bearish descending triangle pattern, which is a continuation pattern that typically leads to a breakout to the downside.
Fundamental analysis:
The Australian economy is facing some headwinds, such as the war in Ukraine and the slowdown in China's economy. These headwinds could weigh on the AUD and lead to a decline in the AUDJPY pair. The Japanese economy is also facing some headwinds, but at a slower pace than the Australian economy. This could lead to a relative outperformance of the JPY against the AUD in the near term.
Risks:
There are a few risks to consider before entering a trade on AUDJPY. First, the global economy is facing some headwinds, such as the war in Ukraine. These headwinds could weigh on risk appetite and lead to a decline in the AUDJPY pair. Second, the Bank of Japan is expected to continue to pursue an ultra-loose monetary policy, which could put downward pressure on the JPY. Finally, the Australian economy is facing some headwinds, such as the war in Ukraine and the slowdown in China's economy. These headwinds could weigh on the AUD and lead to a decline in the AUDJPY pair.
Overall:
I think AUDJPY is a good pair to trade for those who are looking for a short-term bearish trend. However, it is important to remember that the forex market is volatile, and there is always the risk of a reversal. You should always do your own research before entering any trades.
Here are some additional factors that you may want to consider before entering a trade on AUDJPY:
The economic outlook for Australia and Japan.
The level of volatility in the forex market.
The price of risk assets, such as stocks and commodities.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.