AudJpy- I expect a violent dropSince the beginning of November, AudJpy has risen 800 pips (more than 10%) and, as we can see from the chart, it almost has no correction.
I think things are about to change and the pair will dive.
From the technical point of view, AudJpy made a small double top after it passed above 80 and the Friday close found the pair just in confluence support of the ascending trend line and neck-line.
A break here will be the signal that the pair started correcting and the target for such a drop can be 77.
Also, a short trade for this pair has a 1:3 R:R ratio
Audjpybreakout
AUDJPY SHORT/Breakout As we can see, The AUDJPY has formed an Ascending Triangle pattern,even though this is a bullish chart pattern. Breakouts can also happen in both directions. Statistically, upward breakouts are more likely to occur, but downward ones seem to be more reliable.
This analysis is based purely on Technical analysis , Fundamentally, the Australian Dollar is stronger due to the high demand of steel by the Chinese steel production companies this month.
AUD/JPY, Breakout of Support Level will be a Bearish SignAussie dollar kinda boosted up this week, but we are still long-term bearish on this quote. If we broke this horizontal Level, it would be a bearish sign. Keep in mind, that there is still a chance for continuation to the upside of the market. So sit on your hands until price action tells you what to do.
AUDJPY TP AT 72.00HI, TRADERS
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AUDJPY Long Long Long (High Potential for 200 pip move)We can see clearly that 75.433 is holding very very good, if we look daily we can see that have a big hammer,
they pushed the price below this key level (for me) and we broke that supp with a big bearish marobozu but we managed to go upside
again, that means that they don't want the price below that point. Always remember to visualize, to predict how the weekly candle will close , if we look at the weekly tf we can see clearly that this pair is trying to make a big hammer that means the bearish days are over and new trend will follow through.
Remember we have to smash that 76.000 KEY LEVEL with a big HAMMER.
My longer tp for this pair if we manage to close weekly as Hammer is 77.965 about 200 pips , and the stop loss is very tight (20 pips)
Buy zone 75.655, Very very good setup.
AUDJPY MAJOR SUPPORT BROKENPrice of AUDJPY opened with an extremely large gap downwards.While it did it broke below the major support zone, it has started making its way up and we expect price to go up and test the descending trendline at the 0.500 - 0.618 retracement level before dropping down to the -0.27 extension level
AUDJPY SHORT APPROCHINNG AUDJPY Price has been travelling in a descending channel marked out in blue and has been consolidating for a few days. Price broke above the area of consolidation and made a black ascending channel to touch the top of the descending channel and while doing so it had a little breakout to the upside of the descending channel before price dropped out of the ascending channel back into the descending channel.
We believe price will now come back up to retest the inside of the descending channel at the 0.5 retracement level like it previously did like in the yellow eclipse previously
IF PRICE HITS STL , PRICE WILL MOST LIKELY FOLLOW THE RED LINE.
AUDJPY RESISTANCE BREAK AND RETEST - DAILYAUDJPY was travelling in a horizontal channel until we saw a breakout to the upside a few days ago through the resistance zone. Price has now come back down to the 0.382 retracement level of the previous move upwards which is also where the previous resistance zone (now support) is. This indicates price is going up, but where?
Our target is at the top of the descending channel (marked out in thick blue lines) it has been travelling in which nicely lines up with the -0.27 extension level
AUDJPY Long Trade IdeaWe have finally seen AUDJPY break out of a huge consolidation. I am waiting for AUDJPY to drop just a little further back into demand which is also where we have broke through our consolidation upside. I think we could see a nice long-term buy all the way up to around 82.000 .
Very clean cut and dry analysis. There is not too much else to really look at with this pair. This is a trade IDEA and keep in mind this may not play out.