AUD/JPY Trade IdeaHello and welcome to my Trade Idea of the currency pair AUD/JPY.
Lets start with the Top Down Analysis.
Monthly: Monthly is in a very strong downtrend.
Weekly: We see on the weekly timeframe a powerful bearish momentum too.
Daily: We can recognize on daily a pullback to the upside.
H4: On the h4 timeframe we draw the counter trendline and expect a push to the downside.
Have a nice day.
Audjpy-short
AUDJPY - THE TREND IS YOUR FRIEND (AUDJPY)Hello friends.
For some time now, AUDJPY has been downtrending after finding it's place under the .236 speedfan resistance. Now, a short term rally may provide us with an opportunity to cash in on this trend once again.
Now, this trade IDEALLY would have been taken at the 62% retrace - 88~
Already, we have touched the 127% extension. I believe this rally is a result of grinding against the fib circle shown on the chart.
This trend is strong, so I see no reason why the 162% extension can't be our new target. At least, I expect a retest of the 127% extension.
A good entry would perhaps be a retest of the 0 line of the impulse wave - 76.
Stop loss would be a breakout of the .236 resistance. Careful here, we could see a pop to the top of the channel. This trade isn't beautiful, but with a 3.13 RRR I think we can take it just fine.
Smaller positions will do well here.
Good luck traders.
AUD/JPY Trade IdeaHello and welcome to my Trade Idea of the currency pair AUD/JPY.
Lets start with the Top Down Analysis.
Monthly: The monthly timeframe is very bearish. The last weeks have been very strong in the direction to the downside.
Weekly: Weekly is very bearish too.
Daily: On the daily timeframe we see that the trend is to the downside and right now there is a little consolidation.
H4: We draw the counter trendline and resistance area on the h4 timeframe.
Have a nice day.
AUDJPY amazing support!!AUDJPY bouncing off a pretty strong support zone for upward trend continuation. Its bouncing off the uptrend, retesting broken resistance which is now support, and if you look left the horizontal line has been touched many times including on the weekly chart. Looking for targets at around 73 for first and 74 for second before falling again. If price doesn't hold and falls below the green box then I expect price to continue downward toward the support zone around 71 and even break lower since the pair is downtrending.
Short Setup on AUD/JPY by ThinkingAntsOk4H CHART EXPLANATION:
On this timeframe price is making a clear corrective structure on a pullback to the last broken Support Zone. If this structure is broken downwards, we expect the bearish movement to continue towards the Weekly Support Zone.
MULTI TIMEFRAME VISION:
-Daily:
-Weekly:
[AUDJPY] CONSOLIDATION PATTERN???At D1 of AUDJPY, we see the consolidation is happening and seems to be the seller are in advantage (See how the buyer move up the price and seller move down the price in the consolidation). So I would like to wait for a decent rejection around 79.8 level. In that case, our risk:reward will be pretty good if the pullback is at the high position. Also, I expect the consolidation break downward as the seller seem to have more money here, that means with small risk, we would have huge reward which would be around R:R = 1:3 at least.
The main point here is to wait patiently for the decent rejection, if not, just let it go. Nothing to worry, relax and check chart 2 or 3 times per day, it would be great if your mind calm.
AUDJPY. SimplePrice has been trading between the 77.33 and 79.85 range since almost the beginning of 2019.
As you can see we have an upward trend creating higher highs and higher lows.
Price is being squeezed into an ascending wedge.
If price reaches the 79.45 area and rejects this level, this will create a lower high and be the top of the right shoulder for the head and shoulders pattern, suggesting a reversal in price towards the downside.
Waiting for price confirmation (Bearish pin bar of engulfing bar) at 79.45 on the 1 hour or 4 hr chart to go short.
Follow me on Instagram for more updates @nath_pilkington
Let me know your thoughts
Thanks
Nath
AUDJPY: Watch this - don't kick yourself!AUDJPY is in a critical zone on the 3D time frame. This is one to get ready to short, on a lower time frame. Price is struggling in the congestion zone, which contains a heavy bearish investor sentiment. This does not mean price is bound to head south. It means that the probability estimate from this time frame is for the south. For every probability in one direction, there is a residual probability in the opposite direction.