King Crown in Daily and making lower low in two hours time frame. possible to sell AUDJPY nextweek.
Aussie dropped as expected from the beginning of the week against Yen after a strong rally. This retracement might continue for next few days as BOJ in not planning to add any stimulus. Commodities might pick up and that can drive Aussie higher. From technicals perspective 50% Fib retracement with support zone might be a good buying place for a longer term carry trade.
The pair has broken out of the corrective structure and it looks good to buy on a smaller degree correction to the downside towards the broken structure.
Possible swing for this pair and target and stop losses. Reason for long will be provided below: 1) double bottom formation - As you can see from the chart, valid double bottom form around 80.00. Reason being the closing of the price doesn't break the previous low. This gives us a confluence in supporting that the price will be bullish. 2) Candles keep...
Hi traders, Just doing my analysis for the week and thought I would throw up some of my ideas for consideration. I have noticed a double bottom form within the descending triangle here recently. My theory is that if price breaks through the resistance level at around 83.500 there will be room for an entry up to around the 88.000 mark which will complete the...
TRADE ENTRY TRIGGERED ON FRIDAY ....PRICE RETRACED TO LEVEL OF ENTRY...... NOW WE WAIT AND SEE WHAT PRICE TELLS US - LOOKING FOR A STRONG NEW HIGH TO ENABLE SL MOVE
The Aussie has become somewhat neutral currency due to the halting of monetary easing giving the opportunity for the AUD to rally from lows against weaker currencies. On the JPY side of the trade the BoJ are actively intervening in the FX space to keep their currency weak. The dangers of this trade are the safe haven flows strengthening the JPY momentariy. However...
Overnight AUD/JPY has taken a breather and pulled back to support at the lower side of the up channel. With support at 81.15 a LONG here with a STOP under support may work particularly if the price can take out the 200 sma on H1. LONG from 81.47 with a STOP at 81.14. Target WR1 at 83.72
AUD recovering lost ground and has broken free of the down channel. LONG from 80.31 with a STOP under today's low at 79.20 initially. The plan is to get this trade to break even by close of play and hope we get a move north on Sunday's open
DOVISH statement by BOJ and ECB, Cause the asset price jump up. While, the carry trade could possibly continue, the AUD could jump back to upppter trend with the asset price, BOJ as I said few days ago, they can't let the JPY to appreciate further. This will hurt the export company and bring down the headline inflation. With the fibonacci fan speed resistant...
On Friday we saw a sharp reversal from the lows and it's looking like we have more upside potential for now possible to grab a 100 pips or so in this setup.