2 GREAT POSSIBLE TRADES ON AUDJPY DAILY CHART!
Updated
Hello traders again,i am very happy of your positive feedback..
My intentions are to help and share and of course earn money,so when throught your feedback and comments i realize that i am succeeding in those targets i am really happy.
Now let's see the two very promising upcoming trades on AUDJPY pair.
FUNDAMENTALS
1.The AUD/JPY recover is under threat once again, as Gary Cohn signals abandoning his post in the White House.
2.RBA governor Lowe provided nothing new for Aussie traders, leaving the AUD twisting in the wind.
The AUD/JPY pair recovered in Tuesday trading but is under threat again, dropping into the 82.50 handle as of writing on risk-shriveling news that Trump is losing yet another high-powered advisor.
Risk appetite showed up in full force during Tuesday's London session, driving risk assets higher and dragging the Aussie higher against the USD and the safe haven Yen. Market sentiment cooled slightly through New York but remained on-balance with equities flat and bond yields down slightly. The Aussie was unmoved heading into the overnight session following a continued dovish tone from Reserve Bank of Australia (RBA) governor Philip Lowe, whose speech did little but confirm what markets already knew: the RBA will be standing pat on rates for some time as the Australian economy continues to lag.
The Yen is gaining ground ahead of the Tokyo markets, with market fears returning on the news that another key Trump ally is departing the White House staff. Gary Cohn, Trump's top economic advisor, is resigning from his post. Mr. Cohn has given no clear reason for leaving, stating that there is no one particular reason for his departure. Cohn's bowing out of Trump's circle comes at a crucial time, with Trump threatening stiff tariffs on steel and aluminum imports last week.
TECHNICALS
1.Price is above the 200EMA which shows that we are still in a bearish market.
2.Trend line well respected by price action broke and we are witnessing this sell off.
3.Price broke to the downside the ichimoku clouds confirming the bearish market.
4.As we can see at the chart price found resistance to previous resistance zone created by price action.
5.This major level of support coincides with the golden level of 61.8% Fib level.
6.RSI at oversold zone indicating that we might have a strong pullback to the upside.
7.Price had a small bounce from this level as we can see and with some bulish confirmation we might have a strong pullback to test the broken trend line which coincides perfectly with the 61.8% Fib level of the last descening impulsive move and the Ichimoku clouds resistance!(LONG COUNTER-TRADE)
8.If we copy the AB trend line we can project our targets (CD) after price re-test the broken black trend line which give us a nice short target to a deeper retracement of 78.6% Fib as we can see at the chart and creating simualtenuasly an ABCD pattern!(SHORT TREND TRADE)
POSSIBLE TRADES
LONG COUNTER-TRADE
ENTRY AT 81.950
SL AT 80.950
TP 86.250
SHORT TREND TRADE
ENTRY AT 86.300 LEVEL
BUY STOP AT 87.600
TP AT 79.250
THANKS FOR SUPPORT!
KEEP FOLLOWING FOR MORE PROFITS!!
HAPPY TO ANSWER ALL OF YOUR QUESTIONS!
LEAVE A COMMENT OR SHARE YOUR OPINION!
My intentions are to help and share and of course earn money,so when throught your feedback and comments i realize that i am succeeding in those targets i am really happy.
Now let's see the two very promising upcoming trades on AUDJPY pair.
FUNDAMENTALS
1.The AUD/JPY recover is under threat once again, as Gary Cohn signals abandoning his post in the White House.
2.RBA governor Lowe provided nothing new for Aussie traders, leaving the AUD twisting in the wind.
The AUD/JPY pair recovered in Tuesday trading but is under threat again, dropping into the 82.50 handle as of writing on risk-shriveling news that Trump is losing yet another high-powered advisor.
Risk appetite showed up in full force during Tuesday's London session, driving risk assets higher and dragging the Aussie higher against the USD and the safe haven Yen. Market sentiment cooled slightly through New York but remained on-balance with equities flat and bond yields down slightly. The Aussie was unmoved heading into the overnight session following a continued dovish tone from Reserve Bank of Australia (RBA) governor Philip Lowe, whose speech did little but confirm what markets already knew: the RBA will be standing pat on rates for some time as the Australian economy continues to lag.
The Yen is gaining ground ahead of the Tokyo markets, with market fears returning on the news that another key Trump ally is departing the White House staff. Gary Cohn, Trump's top economic advisor, is resigning from his post. Mr. Cohn has given no clear reason for leaving, stating that there is no one particular reason for his departure. Cohn's bowing out of Trump's circle comes at a crucial time, with Trump threatening stiff tariffs on steel and aluminum imports last week.
TECHNICALS
1.Price is above the 200EMA which shows that we are still in a bearish market.
2.Trend line well respected by price action broke and we are witnessing this sell off.
3.Price broke to the downside the ichimoku clouds confirming the bearish market.
4.As we can see at the chart price found resistance to previous resistance zone created by price action.
5.This major level of support coincides with the golden level of 61.8% Fib level.
6.RSI at oversold zone indicating that we might have a strong pullback to the upside.
7.Price had a small bounce from this level as we can see and with some bulish confirmation we might have a strong pullback to test the broken trend line which coincides perfectly with the 61.8% Fib level of the last descening impulsive move and the Ichimoku clouds resistance!(LONG COUNTER-TRADE)
8.If we copy the AB trend line we can project our targets (CD) after price re-test the broken black trend line which give us a nice short target to a deeper retracement of 78.6% Fib as we can see at the chart and creating simualtenuasly an ABCD pattern!(SHORT TREND TRADE)
POSSIBLE TRADES
LONG COUNTER-TRADE
ENTRY AT 81.950
SL AT 80.950
TP 86.250
SHORT TREND TRADE
ENTRY AT 86.300 LEVEL
BUY STOP AT 87.600
TP AT 79.250
THANKS FOR SUPPORT!
KEEP FOLLOWING FOR MORE PROFITS!!
HAPPY TO ANSWER ALL OF YOUR QUESTIONS!
LEAVE A COMMENT OR SHARE YOUR OPINION!
Trade active
Note
Long trade as expected...Congrats on those who listened..Note
We can see a higher high forming so we can look for a long trade with better P/L ratio...
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