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Audjpylongsetup

AUD/JPY forming a strong reversal, remain bullish Price bounced perfectly above our stop loss and is forming a strong bullish reversal. We remain bullish above major support at 82.59 (Fibonacci retracement, horizontal support, bullish divergence) and we expect a strong bounce above this level to at least 83.27 resistance (Fibonacci retracement, horizontal pullback resistance). Stochastic (89,5,3) is seeing strong support above the 8% level where stochastic is bouncing nicely and also displays bullish divergence versus price signalling that a bounce is impending. Correlation analysis: Mixed view on JPY today with AUD/JPY expecting a bounce but EUR/JPY and USD/JPY expecting drops.
Long
by Korora
AUDJPY approaching profit target, remain bearishSell below 83.83. Stop loss at 84.23. Take profit at 83.21. Reason for the trading strategy (technically): Price has continued to drop towards our profit target really nicely. We remain bearish below 83.83 resistance (Fibonacci retracement, pullback resistance, horizontal overlap resistance) for a further drop towards 83.21 support (Fibonacci retracement, horizontal swing low support). Stochastic (89,5,3) is seeing good downside potential towards 4%.
Short
by theforexarmy
1
AUDJPY dropping nicely from our selling area, remain bearishSell below 84.23. Stop loss at 84.64. Take profit at 83.27. Reason for the trading strategy (technically): Price has reached our selling area and is dropping nicely. We now remain bearish below major resistance at 84.23 (Fibonacci retracement, Fibonacci extension, horizontal pullback resistance) and we expect price to react off this level and drop towards 83.27 support (Fibonacci retracement, horizontal pullback support). Stochastic (34,5,3) is seeing major resistance below the 92% level where we expect a drop from. Correlation analysis: We’re expecting overall JPY strength today with AUDJPY and EURJPY both expecting drops.
Short
by theforexarmy
AUDJPY profit target reached perfectly, time to sellSell below 83.92. Stop loss at 84.51. Take profit at 82.43. Reason for the trading strategy (technically): Price has gapped up and reached our profit target perfectly this morning. We prepare to sell below 83.92 resistance (Fibonacci retracement, horizontal resistance, bearish divergence) for price to drop down towards 82.43 (Fibonacci retracement, horizontal pullback support, price gap) to fill up the gap that has been created. Stochastic (55,5,3) is seeing strong resistance below 91% and also sees bearish divergence vs price signalling that a bearish reversal is impending. To read about the daily technical analysis strategies in more detail, you can check them out here : www.theforexarmy.com They're very useful for forex scalping, day trading and swing trading opportunities.
Short
by theforexarmy
AUD/JPY dropped perfectly towards profit target, remain bearishSell below 85.75. Stop loss at 86.51. Take profit at 83.87. Reason for the trading strategy (technically): AUDJPY dropped absolutely perfectly once it reached our selling area and is close to our profit target. We remain bearish below 85.75 resistance (Fibonacci retracement, horizontal pullback resistance, Fibonacci extension) to play the continued drop to at least 83.87 support (Fibonacci extension, horizontal support). Stochastic (55,5,3) has turned down from our 96% resistance level perfectly and has good downside potential
Short
by theforexarmy
AUDJPY profit target reached, time to turn bearishSell below 86.68. Stop loss at 87.10. Take profit at 85.90. Reason for the trading strategy (technically): Price made a bounce and reached our profit target perfectly yesterday. We now prepare to turn bearish below 86.68 resistance (Fibonacci retracement, Fibonacci extension, horizontal pullback resistance) for a further drop to 85.90 support (Fibonacci retracement, horizontal overlap support). RSI (34) is seeing descending resistance hold price down.
Short
by theforexarmy
1
AUDJPY profit target reached perfectly, prepare to turn bearishSell below 87.48. Stop loss at 87.80. Take profit at 86.39. Reason for the trading strategy (technically): Price bounced up perfectly and reached our profit target as expected. We now prepare to turn bearish below 87.48 resistance (Fibonacci retracement, horizontal overlap resistance, Fibonacci extension) for a push down to 86.39 support (Fibonacci extension, horizontal swing low support, Fibonacci retracement)> Stochastic (21,5,3) is seeing strong resistance below the 97% level.
Short
by theforexarmy
1