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Audjpyidea

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
AUDJPY Long - OpportunityI'm looking to BUY AUDJPY in the near future. We are currently seeing a double top forming at the 76.000 area, with price making an aggressive rejection, failing to break and make fresh highs. 0.382 fib level has been a reliable key level in the past, and as acted as both strong support and resistance. I'll be placing an order at 75.630, here are my reasons why; 1) 0.382 fib level is a strong key level (depending whether it holds when price reaches it). 2) Candlestick formations are pointing to move lower for now, which further backs up my analysis of price reaching the 0.382. 3) 0.382 would also correlate with the current long term bearish trend, so we are likely to see candles touch and close above the trend and then continue to move upwards. My take profit will be placed at 76.420, as this is the next major key level on this pair. My stop loss will be placed below the last lower high, with some additional room to let price breathe. Those are the reasons I will be taking this trade. Please feel free to share your feedback and thoughts below! :)
Long
by conappleton
AUDJPY, 4hr tf, sell at resistance riding Wave-5Hello my friends, Another trade coming for everyone is AUDJPY pair. I am also using Elliott Wave theory to trade this pair and it moves exactly like AUDUSD which i posted earlier. So we will be using Wave-1 area as the stop loss to invalidate our sell setup. If you find this post useful please drop a like to this post and my previous post as well. Also follow me to get my latest update about my trading positions. Sell AUDJPY 75.85 Stop loss 76.30 Take profit 74.50 RR Ratio 1 : 3 Use only 1-2% risk Good Luck Disclaimer : I sold AUDJPY from 75.85
Short
by HayatoDragonFX
3
AUDJPY, 1hr tf buy entry in case you missed itHello my friends, I managed to ride AUDJPY during market open and enter exactly at 74.10 according to my previous post. Some people might missed this entry chance as price only touch it for a brief time and shoot up after that. I am gonna share how to enter this pair in case you still want to follow my buy position. We won't buy at current price because it is not offering a good RR ratio. It is better to skip this trade if you're left behind because there will be plenty of trade to follow later on. Wait for price to retrace around 74.30 and initiate buy from this area. It is better to use buy limit order for this pair setup. Buy AUDJPY 74.30 Stop loss 73.90 Take profit at 75.40 RR Ratio 1 : 2.75 Use only 1-2% risk Good luck Disclaimer : I bought AUDJPY from 74.10
Long
by HayatoDragonFX
2
AUDJPY, daily tf, Elliott Wave corrective 4th waveHello my friends, I hope everyone enjoy this week and make decent profit. This weekend, i spent some time to analyze pairs for next week to trade. My first trade for next week gonna be AUDJPY pairs. I tried analyzing this pair by adding some fibonacci tools such as fibonacci expansion and retracement. I found some interesting setup as this pair right now hitting strong support of EMA-200 at daily time frame. Insidentally the place where EMA-200 is located was also a horizontal support level and 161.8 fibonacci expansion level. We could conclude that 73.90-74.10 area is an area of confluences. For AUDJPY to drop further, they will need a lot of strenght. In my opinion, bears currently exhausted as AUDJPY has dropped for 10 straight candles / 2 weeks. It is bound to retrace a bit before continue to the downside. Using Elliott Waves theory as the basis, we could say that we're going to see corrective wave which is Wave-4. Wave-3 stopped exactly at 161.8 fibonacci expansion. Wave-4 usually only a quick corrective wave so we will only buy this pair for a short time. It usually end at 23.6-50% fibonacci retracement. Usually it only stopped at 23.6-38.2% retracement so we will only aim between this fibonacci ratio. I am planning to buy AUDJPY at 74.10 when market open next week. Stop loss will be located a few pips below the support. There are going to be 2setups and you can choose which to follow. Buy AUDJPY 74.10 Stop loss 73.80 Take profit for 1st setup is at 74.85 (RR ratio is 1 : 2.5) Take profit for 2nd setup is at 75.40 (RR ratio is 1 : 4.33) If you wanna take profit using the 2nd setup it is wiser to use trailing stop when price pass the 75.00 level. Use only 1-2% risk Good Luck
Long
by HayatoDragonFX
4
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