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AUDJPY rising nicely from our buying area, remain bullishBuy above 84.78. Stop loss at 84.39. Take profit at 86.13. Reason for the trading strategy (technically): Price has continued to rise nicely from our buying entry. We remain bullish above 84.78 support (Fibonacci retracement, horizontal swing low support) for a further rise to at least 86.13 resistance (Fibonacci retracement, horizontal swing high resistance, Fibonacci extension). Stochastic (55,3,1) is seeing strong support above 1.4% and has good upside potential following the recent bounce.
Long
by MEX_Exchange
AUDJPY bouncing off nicely from our support, remain bullishBuy above 85.36. Stop loss at 84.39. Take profit at 86.67. Reason for the trading strategy (technically): Price has dropped to our buying entry and bounced off perfectly. We look to buy on dips above 85.36 support (Fibonacci retracement, horizontal pullback support, price gap) for a further push up to at least 86.67 resistance (Multiple Fibonacci retracement, horizontal pullback resistance). Stochastic (89,3,1) warns that we are seeing immediate resistance so we should exercise caution on this trade.
Long
by MEX_Exchange
AUDJPY remain bullish for a further riseBuy above 85.36. Stop loss at 84.39. Take profit at 86.67. Reason for the trading strategy (technically): Price has shot up as expected and is fast approaching our profit target. We look to buy on dips above 85.36 support (Fibonacci retracement, horizontal pullback support, price gap) for a further push up to at least 86.67 resistance (Multiple Fibonacci retracement, horizontal pullback resistance). Stochastic (89,3,1) warns that we are seeing immediate resistance so we should be expecting a drop soon for us to get in at a cheaper price.
Long
by MEX_Exchange
AUDJPY bouncing nicely and making a bullish exit, remain bullishBuy above 84.53. Stop loss at 83.57. Take profit at 86.67. Reason for the trading strategy (technically): Price has started to bounce nicely from our buying area and recent price action sees a bullish exit being triggered. We remain bullish above major support at 84.53 (Fibonacci retracement, long term horizontal overlap support, bullish divergence) for a push up to at least 86.67 resistance (Multiple Fibonacci retracements, horizontal pullback resistance). Stochastic (89,3,1) is seeing bullish divergence vs price signalling that a reversal is impending. We can also see a bullish exit triggering further bullish momentum.
Long
by MEX_Exchange
AUDJPY bouncing up perfectly, remain bullishBuy above 84.53. Stop loss at 83.57. Take profit at 86.67. Reason for the trading strategy (technically): Price is starting to bounce off our buying level. We remain bullish above major support at 84.53 (Fibonacci retracement, long term horizontal overlap support, bullish divergence) and we look to play a bounce above this level to push price up to at least 86.67 resistance (Multiple Fibonacci retracements, horizontal pullback resistance). Stochastic (89,3,1) is seeing bullish divergence vs price signalling that a reversal is impending.
Long
by MEX_Exchange
1
AUDJPY playing a corrective bounceBuy above 84.53. Stop loss at 83.57. Take profit at 86.67. Reason for the trading strategy (technically): Price is on major support (Fibonacci retracement, long term horizontal overlap support, bullish divergence) and we look to play a bounce above this level to push price up to at least 86.67 resistance (Multiple Fibonacci retracements, horizontal pullback resistance). Stochastic (89,3,1) is seeing bullish divergence vs price signalling that a reversal is impending.
Long
by MEX_Exchange
AUDJPY remain bearish for a further dropSell below 88.83. Stop loss at 89.35. Take profit at 87.65. Reason for the trading strategy (technically): Price has broken a really nice ascending support-turned-resistance line triggering a bearish move. We prepare to sell below 88.83 resistance (Fibonacci retracement, horizontal overlap resistance) for a push down to at least 87.65 support (Fibonacci extension, horizontal swing low support). Stochastic (34,5,3) is seeing major resistance below 95% and we also see a bearish exit signalling that a change in momentum has occurred. Correlation analysis: We are seeing JPY strength with AUDJPY and USDJPY expecting drops.
Short
by MEX_Exchange
1
AUDJPY dropping nicely, remain bearish for a further dropSell below 88.92. Stop loss at 89.35. Take profit at 88.17. Reason for the trading strategy (technically): Price has dropped nicely from yesterday and we remain bearish below 88.92 resistance (Fibonacci extension, Fibonacci retracement, Elliott wave theory, bearish divergence) for a drop towards 88.17 support (Fibonacci retracement, horizontal overlap support). Stochastic (34,5,3) is seeing major resistance below 95% where we expect a reaction from soon. We can also see bearish divergence vs price signalling that a reversal is impending. Correlation analysis: We are seeing JPY strength with AUDJPY, EURJPY and USDJPY expecting drops.
Short
by MEX_Exchange
AUDJPY approaching major resistance, prepare to sellSell below 89.31. Stop loss at 89.66. Take profit at 88.15. Reason for the trading strategy (technically): We prepare to sell below major resistance at 89.31 (Multiple Fibonacci extensions, swing high resistance) for a push down to at least 88.15 support (Fibonacci retracement, horizontal overlap support). Stochastic (34,5,3) is seeing major resistance below 97% where we expect a reaction from soon. Correlation analysis : AUDJPY looks like it has a little bit of a further upside before a drop, and this is in line with what we’re expecting on USDJPY’s recent rally.
Short
by MEX_Exchange
AUDJPY right on resistance, remain bearish for a further dropSell below 88.15. Stop loss at 88.60. Take profit at 87.52. Reason for the trading strategy (technically): We remain bearish looking to sell below 88.15 resistance (Fibonacci retracement, horizontal overlap resistance) for a further drop towards 87.52 support (Fibonacci extension, Fibonacci retracement, horizontal swing low support). RSI (34) sees long term descending resistance holding price momentum down which helps us keep our bearish bias.
Short
by MEX_Exchange
AUDJPY profit target reached perfectly, remain bearish for a furSell below 88.15. Stop loss at 88.60. Take profit at 87.52. Reason for the trading strategy (technically): Price has dropped perfectly from our selling area and has reached our profit target. We remain bearish looking to sell below 88.15 resistance (Fibonacci retracement, horizontal overlap resistance) for a further drop towards 87.52 support (Fibonacci extension, Fibonacci retracement, horizontal swing low support). RSI (34) sees long term resistance holding price momentum down which helps us keep our bearish bias.
Short
by MEX_Exchange
AUDJPY dropping perfectly as expected, remain bullish Sell below 88.26. Stop loss at 88.68. Take profit at 87.27. Reason for the trading strategy (technically): Price has reached our selling area and reacted off it perfectly. We remain bearish looking to sell on strength below major resistance at 88.26 (Fibonacci extension, Elliott wave theory) for a continued drop to at least 87.27 support (Fibonacci retracement, horizontal pullback support). Stochastic (34,5,3) has started dropping from our 98% resistance nicely. Correlation analysis: AUD weakness is expected today with AUDUSD similarly testing major resistance and expecting a drop.
Short
by MEX_Exchange
AUDJPY approaching major resistance, prepare to sellSell below 88.26. Stop loss at 88.68. Take profit at 87.27. Reason for the trading strategy (technically): Price is approaching major resistance at 88.26 (Fibonacci extension, Elliott wave theory) and we expect to see a reaction off this level for a drop to at least 87.27 support (Fibonacci retracement, horizontal pullback support). Stochastic (34,5,3) has been testing out 98% resistance for quite some time and we expect a drop on it soon. Correlation analysis: AUD weakness is expected today with AUDUSD similarly testing major resistance and expecting a drop.
Short
by MEX_Exchange
AUDJPY approaching major resistance, prepare to sellSell below 85.06. Stop loss at 05.25. Take profit at 84.38. Reason for the trading strategy (technically): Price is approaching major resistance at 85.06 (Fibonacci extension, horizontal swing high resistance) and we expect a strong reaction from this level for a drop to at least 84.38 support (Fibonacci retracement, horizontal overlap support). Stochastic (34,5,3) is seeing strong resistance below 96% where we expect a further drop from.
Short
by MEX_Exchange
AUDJPY approaching profit target perfectly, prepare to sellSell below 82.94. Stop loss at 83.22. Take profit at 81.92. Reason for the trading strategy (technically): Price has bounced off our buy entry perfectly yesterday and has risen strongly towards our profit target. We prepare to sell below major resistance at 82.94 (Fibonacci retracement, horizontal resistance) for a push down to 81.92 support (Fibonacci extension, horizontal swing low support). Stochastic (34,5,3) is seeing strong resistance below the 93% where we expect a drop from soon.
Short
by MEX_Exchange
AUDJPY right on support, remain bullishBuy above 81.90. Stop loss at 81.67. Take profit at 82.90. Reason for the trading strategy (technically): Price has once again dropped to our support level. We remain bullish above major support at 81.90 (Fibonacci extension, horizontal swing low support, bullish divergence) and we expect a strong bounce above this level to at least 82.90 resistance (Fibonacci retracement, horizontal swing high resistance). Stochastic (34,5,3) is seeing strong support above the 8% level and also sees bullish divergence vs price signalling that a bounce is impending. Correlation analysis: We’re expecting overall JPY weakness with bounces expected on AUDJPY, USDJPY and EURJPY. Hence this falls very nicely into a correlated move.
Long
by MEX_Exchange
AUDJPY bouncing perfectly, remain bullishBuy above 81.90. Stop loss at 81.67. Take profit at 82.90. Reason for the trading strategy (technically): Price has dropped perfectly to our buying area and bounced off perfectly. We remain bullish above major support at 81.90 (Fibonacci extension, horizontal swing low support, bullish divergence) and we expect a strong bounce above this level to at least 82.90 resistance (Fibonacci retracement, horizontal swing high resistance). Stochastic (34,5,3) is seeing strong support above the 8% level and also sees bullish divergence vs price signalling that a bounce is impending. Correlation analysis: We’re expecting overall JPY strength today across USDJPY and EURJPY, hence it is best to exercise caution on this trade.
Long
by MEX_Exchange
AUDJPY approaching major support, prepare to buyBuy above 81.90. Stop loss at 81.67. Take profit at 82.53. Reason for the trading strategy (technically): Price is approaching major support at 81.90 (Fibonacci extension, horizontal swing low support, bullish divergence) and we expect a strong bounce above this level to at least 82.53 resistance (Fibonacci retracement, horizontal overlap resistance). Stochastic (34,5,3) is seeing strong support above the 8% level and also sees bullish divergence vs price signalling that a bounce is impending. Correlation analysis: We’re expecting general JPY weakness with USDJPY similarly expecting a bounce from key level.
Long
by MEX_Exchange