Get started

Audjpyidea

AUDJPY Top-Down AnalysisHello Traders, Here is the Top-Down Analysis of AUDJPY (Monthly, Weekly, Daily for direction and 4H for entry) for Week 44 - 26 Oct M > Price reached monthly support/ supply zone creating W formation on its way up. Price dropped to test the neck and continued to drop further to test weekly support level. However after a huge impulsive move we expect price to drop at least till 0.382 Fib level for correction before continuing further. A drop till 0.382 level will create an inverted H & S pattern as well. Hence for long term we have bearish target. W > Price dropped till 0.786 Fib level of last bullish impulse that coincides with weekly support, faced rejection and moved upwards. D > On its way down price created an M formation and after facing rejection at daily demand zone it moved up to test neck of M and complete the formation. Price dropped again to daily supply zone and as off now has created a double bottom. Price has again created an M formation and we expect it to rise to test its neck before continuing further with downward move. As per COT AUD saw closure of more Short than Long positions, improving net positions. AXY weakened during the said week but gained some lost position last week. JPY saw closure of Long and addition of major Short positions reducing net positions further however N-R added few Long and closed major Short positions. JXY during the said week ended in a Doji but improved its position last week. We can expect AUD to continue with weakness this week. 4H > On its way down and subsequent way up after rejection price is in a range of about 60 pips. We expect its to move up before reversing for a downward move. Pair Correlation > AUDJPY has positive correlation with AUDUSD, NZDJPY, AUDCHF, EURJPY and Silver and negative correlation with EURAUD. This was my Idea and I hope you find it useful. If you find the analysis of help please leave a LIKE and FOLLOW for receiving all updates during the week. In the comment section share your view or ask questions. Thank You AP17FX
Short
by AP17FX
AUDJPY long trade ideaPlan: resistance level breakout --> wait for the price to bounce off from support level --> wait for the rejection candle pattern to form e.g. bullish engulfing, pinbar, etc --> BUY **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. Traders!! if you like my ideas and do take the same trade as I do, please write it in a comment so we can manage the trade together. _____________________________________________________________________________________________________________________ Thank you for your support ;) GWBFX
Long
by GWBFX
6
AUD/JPY Technical Analysis.Currently, AUD/JPY is trading at 75.58. The pair is trading in a down trend from some time and now moving towards the resistance level. It can rebound after touching resistance level and touch small support level at 75.30. If it breaks the support level at 75.30 it can go further down till 74.94. Follow proper risk management strategy to avoid unnecessary losses and to increase profitability, don't risk more than 2% of your capital on each trade. Do follow us for future Forex trend analysis and Ideas. Thank you, Rishikesh Lilawat
Short
by rishililawat5
AUDJPY Trading OpportunityHere is a pair that I am watching closely... I have outlined three different routes that price could take from here. The main factors that will be deciding the next move from here, are as follows; LONG - At the top of a key ranging area, with a lot of BULLISH pressure to move upwards. - Recent HANGING MAN candlestick could indicate move higher. - Although a key area, price has made numerous attempts to break past this area in the past. SHORT - Multiple BEARISH candlesticks on lower time frames - Possible head and shoulders pattern forming, indicating a move to the downside. - Price has tried to break this resistance level twice in the last 8 days and failed each time. - With high impact news for AUD overnight, this could affect where the price goes from here. I will be waiting for a break out in either direction and some candle stick confirmation, before i decide to enter this trade. Let's see where it takes us!
by conappleton
AUDJPY IDEAAUDJPY I believe the price will go down but it might make a move on the uptrend first to touch the dotted line above as it has done it before and then go back down. The critical point is the red dotted line (the circle) let’s wait and see what it does near that zone , wait for a retest or the retracement on the upside before the sell. . . . . Espero que el precio baje y logre tocar la zona morada cerca del nivel 74, pero antes de llegar ahi debemos esperar porque el precio pueda que haga un retroceso a alza para volver a tocar la linea punteada como lo ha hecho antes, para volver a bajar. Asi que esperemos que el precio primero llegue a la linea punteada roja para ver que movimiento piensa hacer el precio.
Short
by anaju17
AUDJPY Top-Down AnalysisHello Traders, Here is the Top-Down Analysis of AUDJPY (Monthly, Weekly, Daily for direction and 4H for entry) for Week 42 - 12 Oct M > Price reached monthly support/ supply zone and created W formation on its way up. Price dropped to test the neck and continued to drop further to test weekly support level. However with a huge impulse we expect a drop at least till 0.382 Fib level for correction before continuing further. A drop till 0.382 level will create a nice H & S pattern as well. Hence for long term we can have bearish target. W > Price dropped till 0.786 Fib level of last bullish impulse that coincides with weekly support, faced rejection and moved upwards. Price is in process of making LH and LL. D > We saw an M formation and expected price to move up to test the neck which price did, it has now broken through the neck to test daily resistance level. We do not see loss of momentum as of now but do expect a reversal here or at supply zone. As per COT AUD saw addition of major Long and Short positions, increasing net positions. AXY gained strength during the said week, it improved its position last week. JPY had closure of Long and addition of Short reducing net positions, however Commercials added both Long and Short positions, increasing open interest. This made JXY slightly recover its position for the said week. However JXY was indecisive last week ending with Gravestone Doji. 4H > Price is making HH and HL on 4H chart and trend is bullish, however we do not see any bullish target as of now. Hence we need to monitor price action for reversal and break of last LL for confirmation of bearish move. Pair Correlation > AUDJPY has positive correlation with AUDUSD, NZDUSD, NZDJPY, CADJPY, EURUSD, EURJPY, NZDJPY and AUDCHF and negative correlation with USDCAD, USDCHF and EURAUD, both across Daily and Weekly timeframe. This was my Idea and I hope you find it useful. If you find the analysis of help please leave a LIKE and FOLLOW for receiving all updates during the week. In the comment section share your view or ask questions. Thank You AP17FX
Short
by AP17FX