AudJpy- New leg down after confirmation?AudJpy has broken the confluence support yesterday and dropped to a local low around 79.50 zone.
A correction followed and what, at this point, could be a confirmation for this break.
I expect a new leg down from this pair and I maintain my bearish outlook and 77 target as long as the pair is under 81
Audjpyforecast
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
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AUDJPY - new accumulationThe short position did not work completely.
Now I think they will breakout level 79.
There are a lot of prerequisites for a breakout.
Do you agree?
last opinion
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AUDJPY 180 pips bounce was expected will it reach September highAUDJPY
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⏳H4 chart
🎲 Detailed analysis
⛳️Bullish entry / Alternative bearish entry
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Detailed analysis 💬
1️⃣ Bullish flag formation 76.000 support
2️⃣ 76.550 October month high
3️⃣ Positive risk sentiment, Vaccine news
4️⃣ 75.800 50% Fibonacci Dynamic support and resistance
5️⃣ 78.450 September high acted as strong resistance-Key trend reversal area
6️⃣ 75.640 Point of control - Volume profile
7️⃣ Technical support - Bullish
8️⃣ 78.450 will acted as key reversal-bearish
9️⃣ AUDPY trading within a broad rising channel
🔟 Possible swing target-78.450
#️⃣ Overall long-term trend- Bullish
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📉 Technical bias-Day-Bullish
Price is above 50,100,200 Exponential moving average
50 Exponential moving average will act as support-Bullish
Relative strength index - well above 60 - Bullish trend
MACD -Histogram is still in green zone, Oscillators are pointing upward
Stochastic - Reached around 75- overbought condition will give a short term fall back expected
Ichimoku cloud -cloud is still red and about to turn as green-Price is well above the cloud
Bollinger band- Price reached around the upper side of the band-Short term bearish correction towards middle band was expected
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Key reversal area's
72.000 psychological level
75.640 Point of control area Volume analysis
78.350 Sep month high
76.200 Break and retest area
78.000 Major psychological level
76.450 Possible entry- Bull
78.350 Sep month high/ Alternative bearish entry
—————-✳️——————-
[bBullish entry #yen #kiwi #nzdjpy
Entry price - 76.450
Take profit 01 - 77.300
Take profit 02 - 78.350
🚫 Stop lose 79.950
⬆️ 2.49 Growth expected
⤴️ Account growth .65: 2.49
✅ Risk reward ratio 1 : 3.8
—————-⚜️——————-
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AUD/JPY BUY IDEAHey tradomaniacs,
welcome to a new free trading-setup.
Note: This is meant to be a preparation for you. As always we will have to wait for a confirmation.
AUD/JPY: Day-Swingtrade-Preparation
Market-Buy: 75,970
Stop-Loss: 75,480
Target 1: 76,450
Target 2: 76,680
Target 3: 77,050
Stop-Loss: 49 pips
Risk: 0,5% - 1 %
Risk-Reward: 2,30
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AudJpy- 77 is strong sell zoneLike all "risk", AudJpy flew yesterday and ended the day just under significant resistance from 77.
I expect this resistance to hold and the pair could fall to 75 in the next period.
Sell rallies is my strategy for this pair and only a daily close above 77 would change my bearish perspective
AUDJPY - SHORTSelling a clip of AUDJPY here at 73.86 ahead of the 73.94 pivot and breakdown area that held on Friday. As long as 74.45 fibbo resistance holds, I remain a seller of the rallies going into the RBA meeting. RSI indicates that the market is overbought and the momentum should start to turn towards the downside.
I will sell a 2nd clip around 74.10 if we get there.
Short at 73.86
SL around 74.45
TP around 73.13 fibbo support.