AUDJPY - Looking Toppish! BIG Drop Inbound!All JPY pairs look like they're at the very top of their patterns.
AUDJPY is currently confined within a parallel channel and we're at the very top of the pattern.
We are now looking for any reversal signs on lower timeframe to indicate that the top is in. There's a number of ways this can be done.
1. Trendline Break
Watch for price to break a trendline that price has been respecting
2. BOS
Watch for price to break a significant swing point
3. Moving Average break
Watch for price to break a moving average that has been respected well
Any of these could be the first signs that the reversal is taking place. If we get more than 1 signals, it will give us even greater confidence that the reversal is taking place.
These methods can be applied to any timeframe.
For the higher timeframe, the break of red trendline shown in the chart can be used as an indication that the reversal is taking place.
What do you guys think?
Goodluck and as always, trade safe!
AUDJPY
AUD/JPY Flirting with Record Highs; Eyeing Higher LevelsThe Australian dollar (AUD) is on a tear versus the Japanese yen (JPY) and displays little sign of slowing, with the AUD/JPY currency pair recently refreshing all-time highs of ¥108.60 after rupturing the ¥107.86 peak formed in 2007.
All-Time Highs and H4 Ascending Triangle
Regarding current price action, ¥107.86 will likely be viewed as a potential support level. Moving across to the H4 timeframe, you will note that after the pairing ventured north of ¥108.00, buyers and sellers have been busy carving out a potential ascending triangle, drawn from ¥108.58 and ¥108.03. In strong trending environments such as what we’re in now on the AUD/JPY, the ascending triangle formation is considered a continuation pattern. This means that a breakout to the upside is potentially on the cards, particularly as price is nearing the apex of the ascending triangle.
A breakout to the upside is usually traded in one of two ways: either enter long on a H4 close above the ascending triangle and take aim at the ¥109 region as an initial take-profit objective, or wait and see if price action retests the breached boundary as a support and enter based on that level holding, again targeting ¥109 as an initial upside objective.
AUD/JPY SHORT FROM RESISTANCE
Hello,Friends!
AUD/JPY pair is in the uptrend because previous week’s candle is green, while the price is clearly rising on the 12H timeframe. And after the retest of the resistance line above I believe we will see a move down towards the target below at 106.780 because the pair overbought due to its proximity to the upper BB band and a bearish correction is likely.
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AUDJPY Expected Growth! BUY!
My dear subscribers,
My technical analysis for AUDJPY is below:
The price is coiling around a solid key level - 108.32
Bias - Bullish
Technical Indicators: Pivot Points High anticipates a potential price reversal.
Super trend shows a clear sell, giving a perfect indicators' convergence.
Goal - 108.41
About Used Indicators:
By the very nature of the supertrend indicator, it offers firm support and resistance levels for traders to enter and exit trades. Additionally, it also provides signals for setting stop losses
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WISH YOU ALL LUCK
audhpy sell signal. Don't forget about stop-loss.
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P.S. I personally will open entry if the price will show it according to my strategy.
Always make your analysis before a trade
AUDJPY Approaching the long-term Sell ZoneThe AUDJPY pair gave us an excellent short-term sell signal last time (May 23, see chart below) but after that broke above the medium-term Channel Up aggressively:
We now need to zoom out to the longer term 1W time-frame, where we clearly see the dominant pattern of the pair, which has been a Channel Up since the March 16 2020 (COVID) market bottom. Each Higher High was formed when the 1W RSI started forming a Bearish Divergence on Lower Highs. The 1st Bullish Leg was priced after a +32.90% rise, while the 2nd one at +26.70%.
As a result, with the 1W RSI overbought above 70.00 for the 2nd time in 6 weeks, we believe that the pair is approaching its long-term Sell Zone on the Higher Highs region. Its Higher Lows have been priced near or on the 1W MA100 (green trend-line), so we will take this sell opportunity to target 101.000 (expected contact and breach of the 1W MA50 (blue trend-line)).
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JPY remains under selling pressureThe Japanese government is currently enjoying the weaker yen, as it helps boost the economy. However, this is only a short-term solution, as eventually, people's anger about rapidly rising prices might overshadow that government's positivity.
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AUDJPY - Long from bullish order block !!Hello traders!
‼️ This is my perspective on AUDJPY.
Technical analysis: Here we are in a strong bullish market structure from 4H timeframe perspective, so I look only for long position. I want price to continue the retracement to fill the imbalance lower and then to reject from bullish order block + institutional big figure 107.000.
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AUDJPY - Aussie Japan Forex - idea I AudJpy 07/2024
Yearly: Stoch OB but very bullish close.
→ Resistances ahead: 103-106 (grey box) – 107 (Yearly High)
→ big wick area from 98-107 ---- Bearish Zone, once yearly closes above its converted.
→ 107 opens a chapter of Double Topping
Quarterly: Bullish Breakout above Triangle. Retesting 107
→ showdown area reached
→ Stochastic OB 96 = some kind of reversal expected
→ candle closes very bullish above grey area but below 107 – Retest for a drop?
Monthly: Bullish close, almost vertical now
→ 3 Months too much gains without a retest : expected drop from here because we reached a major target
→ bullish trendline is still intact
→ 3D TF must be watched for early signs of a double top. Grey box must be broken for bears to take control
3D: Some Triangle formation – breakout can be volatile
- bullish trendline is intact so theres no reason to sell at all. It might just break above 107 and continue the bullish party. But they have been extended the party for a long time… time to get some rest? … Will consider long trades ONLY above 107.6. Below bears like me will be happy to start a party…
Thanks for reading…
AUDJPYAUDJPY price is in the strong resistance zone 107.409 and 107.741. If the price cannot break through the 107.741 level, it is expected that there is a chance that the price will fall. Consider selling in the red zone.
>>GooD Luck 😊
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*Always follow your trading plan regarding entry, risk management
Bias still on the upside for UJ,can look at AJ too...Hello fellow traders , my regular and new friends!
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AUD-JPY Massive Resistance Ahead! Sell!
Hello,Traders!
AUD-JPY is trading in an
Uptrend as the Yen keeps
Weakening, but the pair
Will soon hit a massive
Horizontal resistance level
Around 107.983 and as the
Pair is overbought we will
Be expecting a local
Bearish correction
Sell!
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Check out other forecasts below too!
AUD/JPY BEST PLACE TO SELL FROM|SHORT
Hello,Friends!
AUD-JPY uptrend evident from the last 1W green candle makes short trades more risky, but the current set-up targeting 104.460 area still presents a good opportunity for us to sell the pair because the resistance line is nearby and the BB upper band is close which indicates the overbought state of the AUD/JPY pair.
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AUD/JPY Broke The D Res , Long Setup Valid To Get 200 Pips !This Is An Educational + Analytic Content That Will Teach Why And How To Enter A Trade
Make Sure You Watch The Price Action Closely In Each Analysis As This Is A Very Important Part Of Our Method
Disclaimer : This Analysis Can Change At Anytime Without Notice And It Is Only For The Purpose Of Assisting Traders To Make Independent Investments Decisions.