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Audjpy-short

AUDJPY SHORTAnother short opportunity, very similar set up to our NZDJPY trade, same overall down trend on the higher TF's and a small corrective up trend on the 4hr and daily TF's, after breaking the support phase line of the smaller up trend we had another CBO style entry with a solid retest and rejection of the 50 EMA, markets now continuing to reject and fall to the downside. More than likely being gravitated towards the lower support level on higher time frames where there is most likely a high level of limit orders and liquidity waiting to be snatched up by the market.
Short
by CIGSFX
1
AUDJPY DAILY 10/28/19AUDJPY Short Idea AJ still has a lot to prove at the current zone to confirm our short idea, however, everything I typically look for is lining up nicely We have a major resistance at the current level and again at 75.000, I’ll be looking for higher timeframe bearish variations for me to gain reason to start dropping timeframes with intent to enter a sell. Ideally a nice wick of the 78.6% fib level and Monthly resistance level would a great indication of a potential reversal from this level Look to target toward the weekly support around 70.00 as well as the -27% fib level around 69.76
by ForexLeague
AUDJPY - DOUBLE TOP? or TREND REVERSAL??$ can go in either 2 ways it can break the resistance its at. Or it can create an "M" formation (double top) and drop down. Wait for confirmation, and make the move but overall, $ has not dropped below the monthly support (71.103) since 2008, although $ has came down to the support it only touched it and revered its trend. (71.103) has been a strong support for a while now. I believe $ will make its way to the monthly resistance (81.388). I say this is a buy.
by pmgai