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Audjpyidea

AUDJPY - BULLISH BIASWhy we look to long AUDJPY? ===== MARKET OUTLOOK ===== AUD - BULLISH 1️⃣ Investors pushed the US Dollar to fresh 2-year lows in early Asian trade amid delayed fiscal stimulus for the American economy. 2️⃣ Australian Government signed an agreement with UK-based drug company AstraZeneca to secure the potential COVID-19 vaccine developed by Oxford University, if its trials prove successful. 3️⃣ Westpac-Melbourne Institute Leading Economic Index in Australia rose by 0.1% month-over-month in July, posting the smallest gain in three months. JPY - BEARISH 1️⃣ Investors cheered prospects of further stimulus for the US economy after US House Speaker Nancy Pelosi indicated that a stimulus deal may still be reached if Democrats cut their stimulus proposal in half. 2️⃣ Receding safe-haven demand undermined the JPY. ===== TECHNICAL ===== - We are looking to long AUDJPY on RBS level + SMA50 area on H1 chart. Stop loss under pivot point . - AUDJPY in bullish zone. ===== RISK TO THIS TRADE ===== - Stop loss will hit if market sentiment turns to risk-off mode.
Long
by MonsunAsia
AUD/JPY Technical Analysis.Currently, AUD/JPY is trading at 76.26. The price is moving in up trend by making higher high and lower low pattern. The pair may start a new down trend if it breaks the support level at 76.08, likely It is possible that the pair may rebound back after touching support level to continue its up trend. If the pair starts a new down trend after breaking the support level, then its first target price will be at 75.74 and second target price will be at 75.09. Follow a 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 - SELL OPPORTUNITYAUD - BEARISH 1️⃣ Australia's Victoria state Premier confirmed a record 723 additional coronavirus cases and announced that face masks are now mandatory across the state, while there were later comments from Australian PM Morrison that the coronavirus spike in Victoria state is very concerning. 2️⃣ Consumer prices in Australia declined by 0.3% year-on-year in Q2 2020. This was the first drop in consumer prices since Q3 1997. 3️⃣ All major economic data RBA is negative. 4️⃣ Weaker-than-expected domestic data, which showed that Building Approvals fell to an eight-year low in June. JPY - BULLISH 1️⃣ The Japanese Yen gains as accelerating coronavirus infection rates continued to dampen hopes of recovery for the United States economy. 2️⃣ The recent escalation of diplomatic tensions between the world's two largest economies forced investors to take refuge in traditional safe-haven assets. ===== Technical ===== - We looking to short #AUDJPY on SBR level + SMA 50 area. - AUDJPY in bearish zone.
Short
by MonsunAsia
AUDJPY, 8hr tf, double top possibility and triangle patternThere is a possibility AUDJPY forming a double top on the daily chart. Price also broken below the ascending trend line which has supported AUDJPY for 4 months. Taking a deeper look into 8hr chart there is a possiblity of triangle pattern also forming. Price already broken below the support and currently we are on the retest process of broken support. Sell AUDJPY 75.20-25 Stop loss 75.65 Take profit 1 @74.30 Take profit 2 @73.40
Short
by HayatoDragonFX
AUD/JPY Technical Analysis.Currently, AUD/JPY is trading at 75.20. The pair is consolidating in the resistance and support wedges. Previously, the pair was trading in a down trend in a descending triangle pattern. There is a great possibility that the pair will rebound back from its support level. But if the price breaks the support level at 74.87, then It may start a new down trend and its first target price will be at 74.03 and second target price will be at 73.42. Follow a 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
by rishililawat5