Audjpyidea
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 price MIght go up as we can see AUDJPY price has been on a going up for 6 out of the 7 days so far. we'll wait and see what price does at this weekly level in order to make a decision to buy or sell, but before we got so see if price ends the day above or below the weekly level.
AUDJPY shortAUDJPY reached 38% fib lev with trendline and resistance confluence, good short opportunity
AUDJPY - SELL FOR A SWING TRADE Audjpy - daily chart - expecting a deep swing lower on this pair as aussie dollar weakness.
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.
AUDJPY - SHORTAUDJPY bounces off the lows however there is strong resistance around the 74.10 level. so my strategy remains the same (sell the rally's). I will sell a second clip around the 74.10 mark if we are to get there with a stop around 74.35 for all.
Short 1 @ 73.87
SL: 74.35
TP: 73.13 (fibbo support)
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
AudJpy- Imminent break downAudJpy is in a clear downtrend and, as said yesterday, rallies towards 75 should be well caped by bears.
The pair is trading for the 3rd time in 74 zone support and I expect a breakdown sooner rather than later.
My target for short is 72.50 and I will remain bearish as long as the pair stays under 75
AudJpy- drop ahead?AudJpy is trading in a very tight range for a few days now.
The trend is down and I believe the break will be to the downside and will assist a continuation under 74.
I'm bearish this pair as long as the price is under 75
AUDJPY, JPY weakening ...Elections could make things pretty messed up so be careful..
AUD gained serious momentum as JPY getting
weaker but technically correction is completed.
If 76 rejection zone breaks
then proper BULL RUN will occur.
74 seems to be a Demand zone.
AUDJPY Shor swing OppurtinityI believe this pair will go down with an opportunity for swing short ad discussed in above chart.
Do your DD, apply your edge, and act accordingly.
Best Luck
AUDJPYPrice is testing a monthly support. The market is currently printing a consolidation pattern. RSI is printing a bullish divergence signal. Breakout is imminent. Possible price actions indicated.
AUDJPYThis is an opportunity I missed overnight, this would of been a nice trade to take.
Price created a higher low and a kicked in with some bullish momentum, which would of been the best time to enter a position.
Unlucky but we move onto the next!
AudJpy could accelerate its lossesFor a few days now AudJpy is consolidating just above 74 zone support.
The combination of weak AudUsd and strong Jpy is not good for the pair and we can see a breakdown sooner rather than later.
I expect gains to be well caped on 75 zone and the pair could drop to at least 72 and even 70 in the medium term
Look to sell rallies under 75
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.
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Thank you for your support ;)
GWBFX
AUDJPY AUDJPY shows a strong sale probability but before that there might be a short delay or drawback before continuation. Let's see how this goes!
