AUDJPY Countertrend timeAs we noticed from 2 weeks before AUDJPY parrity made its Highest high point which was also predicted as strong resistance which 89.50 Band. Adding to this significant drops at volality in August triggered this chart to start it's countertrend as 8th month started. Now chart holds 86.25 point which forms a good opportunity to sell. 86.10 is the key level which will be a strong support to pass for AUDJPY but closure below this band will lead 85.50 and 84.35 band to us. 85.50 band holds weekly support level and 84.35 holds fibbo %-27 level to reach.
Audjpy-short
AUDJPY Short based on daily overbought technicals.AUDJPY looks to have a double top on the daily. There is a firm rejection candle on the 27th indicating a reversal is probable. The RSI has crossed down from being in overbought territory. The MACD has also crossed down. The OBV has crossed it's EMA and trending down as well, this is indicating some distribution and selling happening. I am looking to short on a close below the 27ths low.
AUDJPY completed bear cypher and incomplete bullish batI apologize for the rough drawing, it is an approximation as I am currently in this trade/on the fly. bear cypher completed @ 88.097, possible bullish bat forming with PRZ @ 87.678. Holding short to test point B on bat (point C on cypher, same level). Could possibly see flush down to the Bat's PRZ @ 87.678 for a bat completion. Holding tight! Tops placed a couple of ticks above current high @ 88.144.
Cheers! Happy Trading.
-John, J1TFX
AUDJPY Short Opportunity 33 pips2017-05-14
Triangle broke out bearish so we're clearly now in a down trend.
Confluence of two separate Fib Future D points at 83.400/83.442 indicates a strong probability of a continuation down to that level. There's 33 pips on the table here.
Longer targets could be looking at around 81.500's - previous structure, and a shoulder/head/shoulder formation to confirm lower push from the bears. Watch this space!
AUDJPY SHORT2017-05-03:
Price action currently siting around 38.2 pullback. Having broken the previous structure low and closed below, and put in a previous double top, this price action has broken the SMA50 and is heading south. RSI and Stochastic are oversold or close to oversold, suggesting a short term retracement is close by.
Assuming continuation of Bearish move, the next target should be 83.515 at previous structure Resistance. A move of around 29 pips.
AUDJPY - A simple breakoutSell on the lower-low lower-close bar after a retest of the trendline. As usual : broke out of the pattern, wait for a retest of the resistance, and sell it off. RSI is kind of low so I'm waiting for the moment. It might also bounce of the 200SMA.
*SL, Entry and TP might not be the one I'll use*
Trade safely!