AUDJPY facing pressure from 1st resistance, further dropPrice is facing bearish pressure from the first resistance level, in line with 61.8% fib retracement and horizontal swing high where we could see a drop to our support level where the 38.2% fib retracement is. Ichimoku is also showing that limited pushup is possible before any reversal.
Aud-jpy
AUD/JPY Long TradeCaught a nice long trade today on AUD/JPY.
Price recently reverted to an area of the previous resistance around the 76.60 level.
Price showed confirmation of rejection at this level following closed bullish 4H candles. The MACD and RVGI also showed signs of a trend reversal by displaying signal crossovers. The RSI was also oversold.
Therefore, a long trade was entered on this pair today and some great profits were banked.
AUDJPY is testing former resistance Right now! This is a full breakdown of my perception of price action on higher time frames! I take my entries using smaller time frame confirmation and you should, too. If you have any questions about this trade or my strategies feel free to ask them in the comment section below!
Let’s make some money together!
AUD/JPY Weekly Candlesticks & Ichimoku ChartChinese economy recovering strongly should benefit the AUD in the longer run, and once Abe’s successor is elected, BoJ’s ultra-easy monetary policy will likely be reaffirmed — paving the way for eventual JPY weakness.
AUDJPY has closed above the weekly Ichimoku cloud and broken above resistance at 0.7680–0.7700 convincingly. Buy on dips for a test above 0.8000 seems the right way to go…
Breakout Identified in AUDJPY The Breakout Opportunities system has just sold AUDJPY at 77.262. The system recommends entering this trade at any price between 77.084 and 77.349. The signal was issued because the AUDJPY has broken its 24-hour low while our Speculative Sentiment Index was at 1.431, suggesting that the AUDJPY may have further to fall. A stop loss has been set at the 24-hour high of 77.609 and a profit target has been set at the 1 Day ATR level at 76.548. The system will move the stop to the next 24-hour high every time that 24-hour high is lower than the previous 24-hour high. Breakout Opportunities is a breakout strategy that aims to catch the significant moves that typically happen when currencies break through technical support or resistance.
Signal ID: 73214
Time Issued: Tuesday, 08 September 2020 08:58:15 GMT
Status: open
Entry: 77.084 - 77.349
Limit: 76.548
Stop Loss: 77.609
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Past Performance is not an indicator of future results.
AUDJPY 4hour Analysis September 6th, 2020AUDJPY Long idea
This pair is now bullish on all significant timeframes and we recently saw a daily trend change when 76.500 was confirmed broken.
Current price action is now in a retracement and is near the 61.8% fib level. We will look for bullish transitions and bullish setups anywhere between the 61.8% fib level and key support at 76.500. Look to target higher toward key resistance and negative fib levels.
For us to consider short opportunities we need to see a confirmed break and retest of 76.500.
Two great trading opportunities on this chart for AUDJPY Mid-Term Forecast:
Trading suggestion:
In the daily chart, if the price reaches the support line 76.80 then rejects from it, there is a Buy trading opportunity.
and also, if the price passes the support line and is able to break the uptrend, there is a Sell trading opportunity.
Technical analysis:
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 60.
Take Profits:
For take profit in the daily chart, traders can use the specified resistance lines for the buy status, and the specified support lines for the sell status.
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Intraday Forecast
Trading suggestion:
". There is a possibility of temporary retracement to suggested support line (76.9416).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. AUDJPY is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 50.
Take Profits:
TP1= @ 78.47
TP2= @ 79.70
TP3= @ 78.45
TP4= @ 78.95
TP5= @ 79.67
SL= Break below 76.71
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AUDJPY looking for a retracement 🦐AUDJPY on the daily chart has been moving inside an uptrending channel.
Recently the market broke the weekly resistance and went up till the daily trendline.
Price got perfectly rejected and now is lookg for a retracement.
ON the 4h timeframe we can expect the price to reach the minor structure at the 0.382 fib level and probably go for a test of the weekly support.
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Follow the Shrimp 🦐
Here is the Plancton0618 technical analysis, please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.
AUDJPY Intraday: AU data + ST chart means sell ralliesHi
Australian data (weak GDP, RBA below hawkish expectations and Retail sales overnight) plus short term chart are against the bulls.
If we add negative sentiment during the New York session (still 2 hours and anything can happen there), we do have good ground for short positions;
Selling rallies towards 77.55 / 75
Stop above 77.95
Target 76.15
Good luck
AUDJPY testing 1st resistance , further drop expected ! Price is facing bearish pressure from our 1st resistance where the horizontal swing high lines up with the 61.8% fib extension. We could see a further drop towards 1st support at 77.10 at the horizontal swing low. MACD is also indicating more bearishness to come.
AUDJPY 4hour Analysis August 30th, 2020AUDJPY Long idea
Overall we are very bullish on AUDJPY and we are going to continue looking for long opportunities.
Where current price action is we can not make a high probability trade. Ideally we want to see structure form, look for a retracement to either the 38.2% or 61.8% fib level with a confirmed higher low.
Look to enter on strong bullish setups confirming a continuation to the upside. Target toward the prior high and key fib levels.