Get started

Audjpybuy

AUDJPY right on major support, remain bullishBuy above 85.60. Stop loss at 84.88. Take profit at 86.97. Reason for the trading strategy (technically): Price is right on our buying area. We remain bullish above major support at 85.60 (Fibonacci retracement, horizontal swing low support, Fibonacci extension) and we look to buy on weakness at this level for a bounce to at least 86.97 resistance (Fibonacci extension, horizontal swing high resistance). Stochastic (34,5,3) is seeing strong support above 7% which stochastic is fast approaching. We can also see recent bullish divergence signalling that a bounce is impending.
Long
by MEX_Exchange
Uptrend Continuation for AUDJPYAUDJPY has started a new uptrend and I am looking to ride the trend from the retracement. Today I was able to ride the trend using my own modification of the U-Rider system which I learned from a friend who's into Stock Market Trading. Since it is clearly on an uptrend, I waited for the retracement around 38.2 Fibonacci level where the price also touched the 10 SMA (blue line) and waited for price to close above the 10 SMA which, at the same time is an engulfing bar. Entered this trade at 84.150 (around 38.2 retracement of the engulfing bar) with 50-pip stop loss and 100 pips target to achieve 1:2 RRR.
Long
by CaptainHawk
1
AUDJPY right on support, remain bullishBuy above 81.90. Stop loss at 81.67. Take profit at 82.90. Reason for the trading strategy (technically): Price has once again dropped to our support level. We remain bullish above major support at 81.90 (Fibonacci extension, horizontal swing low support, bullish divergence) and we expect a strong bounce above this level to at least 82.90 resistance (Fibonacci retracement, horizontal swing high resistance). Stochastic (34,5,3) is seeing strong support above the 8% level and also sees bullish divergence vs price signalling that a bounce is impending. Correlation analysis: We’re expecting overall JPY weakness with bounces expected on AUDJPY, USDJPY and EURJPY. Hence this falls very nicely into a correlated move.
Long
by MEX_Exchange
AUDJPY bouncing perfectly, remain bullishBuy above 81.90. Stop loss at 81.67. Take profit at 82.90. Reason for the trading strategy (technically): Price has dropped perfectly to our buying area and bounced off perfectly. We remain bullish above major support at 81.90 (Fibonacci extension, horizontal swing low support, bullish divergence) and we expect a strong bounce above this level to at least 82.90 resistance (Fibonacci retracement, horizontal swing high resistance). Stochastic (34,5,3) is seeing strong support above the 8% level and also sees bullish divergence vs price signalling that a bounce is impending. Correlation analysis: We’re expecting overall JPY strength today across USDJPY and EURJPY, hence it is best to exercise caution on this trade.
Long
by MEX_Exchange
AUDJPY approaching major support, prepare to buyBuy above 81.90. Stop loss at 81.67. Take profit at 82.53. Reason for the trading strategy (technically): Price is approaching major support at 81.90 (Fibonacci extension, horizontal swing low support, bullish divergence) and we expect a strong bounce above this level to at least 82.53 resistance (Fibonacci retracement, horizontal overlap resistance). Stochastic (34,5,3) is seeing strong support above the 8% level and also sees bullish divergence vs price signalling that a bounce is impending. Correlation analysis: We’re expecting general JPY weakness with USDJPY similarly expecting a bounce from key level.
Long
by MEX_Exchange
AUDJPY dropping nicely from our selling area, remain bearishSell below 84.23. Stop loss at 84.64. Take profit at 83.27. Reason for the trading strategy (technically): Price has reached our selling area and is dropping nicely. We now remain bearish below major resistance at 84.23 (Fibonacci retracement, Fibonacci extension, horizontal pullback resistance) and we expect price to react off this level and drop towards 83.27 support (Fibonacci retracement, horizontal pullback support). Stochastic (34,5,3) is seeing major resistance below the 92% level where we expect a drop from. Correlation analysis: We’re expecting overall JPY strength today with AUDJPY and EURJPY both expecting drops.
Short
by theforexarmy
AUDJPY may breathe to the upsideHey guys, one of my usual analysis here. The blue box you see on the chart is a support zone drawn on the daily timeframe. That's important because i knwo that i'm looking to long as long as we are in the structure zone, not above, not below. And it is also important to place the right stop loss limit, for i know i'm wrong as soon as price breaks to the downside. However, on the Daily chart i've also drawn a Cypher pattern that's already completed. As we go down on the 4hr you can see some divergence on the RSI and a psychological level that could act as support as well. The last sign is represented by the engulfing candle. I'm waiting for a little pullback to enter. Let's see. If you want to share your thoughts or ask questions, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
AB=CD pattern with confluence on AUDJPYHey guys, i want to share with you this analysis i've made on audjpy. In the bigger picture (daily timeframe) price has recently broke and closed above a structure resistance, signaling the intention to go higher. Assuming that, i'm now looking for long opportunities down on lower timeframe (such as the 4H). Here we can see price is pulling back into the previous support and by doing that it has created a simple AB=CD pattern that completes right into the structure along with a .618 retracement of the bigger leg on the daily. With this situation i'm waiting to see the price's reaction to this level, in order to buy if i notice some weaknesses. Also pay attention to the RSI condition when price will come (if it will) to our zone, for an oversold condition could be used as another clue of price's reversal. I'll keep you updated. If you want to share your standpoint or ask questions, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1