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Audjpyforecast

AUDJPY felled below 50% Fibonacci levelAUDJPY Price has reached around 78.500 which is a August month high and the upward momentum is shifted towards downwards as the risk aversion creeps in the market. The vaccine hopes supported the risk proxy for the past two months. The vaccine trial was put on hold by Astrazenca pharma company due to the some side effects caused by the unapproved vaccine and in many other countries are conducting the trials on side by side The number of coronavirus cases are surging everyday around the world. Even in Europe and in England the COVID-19 cases are rising the the government is preparing for the fresh lockdown measures. And the political developments around the world will cause the demand for safe heaven assets The healthy relationship between the government of Australia and People republic of china as both sides are preparing for fresh sanctions against each other on particular imports such as wine and beef. Though the industrial activity in china is back to the pre pandemic level this will support the Australian dollar too. But the deteriorating relationship between two countries will make the AUD less attractive The Japanese PM has resigned on the health grounds and the Newly elected PM Suga said that they will follow the abonomics in coming days. Which in turn will support the buying of Japanese yen The AUDJPY is the perfect pair to measure the current risk sentiment of the market. The price has felled around 4.1% from August high. If the price reached the 78.6% then it might lose around 6% from the August high level Currently AUDJPY is trading below the 50% Fibonacci retracement level. And below the 76.000 level The lower trend line which is holding this pair since 12 June was broken. Ichimoku clouds is pointing towards south On Elliot wave principal Currently 3rd wave is forming the we are expecting that this wave will end at 73.800 level which is a 78.6% Fibonacci level The price has felled below the 50,100,200 EMA. RIS has reached 20 level which indicates the minor rebound towards 50% Fibonacci level. MACD is turned red Please give us a thumbs up if u like our work and do follow us so that you can get a regular update about upcoming setups and ideas
Short
by forexorbit
AUDJPY - sell biasedHi all traders, by now, u would have made alot of pips just following this pair of AUDJPY. Congratulations on it. Now for the next setup for AUDJPY. Im looking for the close below the trend line. IF the trend line is broken. I am gonna look for further weakness in this pair till we reach the next support. Plan your trade nicely and you should be able to scoop tons of pips from this idea. Follow me on tradingview. Like and share with all your friends of this idea. **Disclaimer: All trade ideas are of my own personal view. It's not a financial advice. Thanks!** Cheers everyone!
Short
by FxTradingWarrior
1
AUD/JPY could MOVE DOWN!Hey tradomaniacs, after previous fakeout to the topside AUD/JPY could continue its correction to the downside. These fakotus after often a move by institutional traders to liquiddate the retailers in order to have enoug liquidity for their oen positions. JPY is overall strong due to the previous news aswell as DXY which is still moving upwards. Market is pretty choppy and indecisive so be carefully trading! LEAVE A LIKE AND A COMMENT - I appreciate every support! =) Peace and good trades Irasor Wanna see more? Don`t forget to follow me. Any questions? PM me. :-)
Short
by Trading2ez