AUDJPY Technical Analysis and Trade IdeaIn this video analysis, we closely examine the AUDJPY currency pair. We've identified a break below a prior low, indicating a downtrend. Considering the present weakness in the Australian dollar and the prevailing strength in the yen, I'm eyeing a potential selling opportunity.
At the moment, the price has stretched significantly into a crucial support area. As outlined in the video, we're anticipating a potential pullback, particularly around the New York open, provided the conditions discussed in the video align.
It's crucial to note that this analysis is purely for educational purposes and should not be construed as financial advice.
Audjpyanalyis
AUDJPY SELL SETUPSELL SETUP ABOUT AUDJPY
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Disclaimer : The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
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AUDJPY short setupHere i see that AUDJPY does not have enough support to hold the price. I'm planning to enter short with 1:2 risk to reward. I'm going to update this post accordingly.
UPDATE:
I have entered short. I have changed the stop level as there's a strong resistance. So I have moved my stop a bit above the resistance line.
Entry: 79.875
SL: 80.340 - 47 pips
TP: 78.915 - 96 pips
RRR: 1:2
This is not financial advice
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Trade safe
Atilla
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.