Audjpyidea
AUDJPY - weekly structure completedPlease note, all information presented here is for educational purposes only and is not intended to provide financial advice.
- 3 drive weekly structure completed going to Sunday/Monday
- we will see a 2618 trade on the 15 min chat or it can go further for stop hunting last week highs
AUDJPY ALERT - Sale is upon us :)AUDJPY has hit the top now. i am expecting this
bulls to come back in now. if it breaks the blue support
line then its should be going up.
Also Stoch RSI is in overbought territory
in the 2H chart.
See previous analysis
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AUDJPY BUY coming - jump in :)AUDJPY has retraced a fair bit now. i am expecting this
buys to come back in now. if it breaks the blue support
line then its should be going down.
Also Stoch RSI is in oversold territory in the 1H chart. so i have getting ready for this to move soon
See previous analysis
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Audjpy - Long OpportunityPrice failed to make a lower low and left a strong exhaustion candle. Then, it broke the consolidation to the up side and came back to the retest on a area that was tested as support several times and left us a strong bullish pinbar. I`m going long as soon as the price breaks the highest point of the bullish pinbar.
AUDJPY Weekly Forex Forecast 30 September to 6th OctoberMidterm forecast:
While the price is above the support 78.65, beginning of uptrend is expected.
We make sure when the resistance at 83.90 breaks.
If the support at 78.65 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:
There is a divergence in RSI and price between the trough at 80.495 on 2018-03-23 and the trough at 78.68 on 2018-09-07, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
While the RSI support #2 at 50 is not broken, the probability of price decrease would be too low.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 61