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AUDJPY 240MHello traders! In this trade we are looking for a momentum completion from line B to line D for 50 pips. We also have a 25 pip target between lines B and C if price goes that way. These trades can be taken with a buy stop order as a set&forget setup or we can wait for PA to close above line B as with the T1 and T2 levels. In the case of the T3 level, price blasted through too quickly to wait for a close above the line. It`s recommended to position stop no further away than 1:1 RR away from entry, although this may vary with markets and volatility. Best, Jay
Long
by TrapReversalTrading
AUDJPY Analysis: Price at a good entry levelPrice has been on the rise and following an ascending channel. It just reversed from a strong resistance level and currently at the support line of the channel. It is also currently at a horizontal support level. I am not sure of the next move but I see two possibilities: Scenario 1: Price may continue to follow the channel and bounce off upwards to test the resistance again. In this case we need to wait and confirm reversal to go long. Scenario 2: Price may break the support and continue downwards. In this case we to wait and confirm a breakout in order to go short. I would appreciate much to get your opinions on the pair in the comment section. If you agree with the analysis kindly hit the like button to show agreement.
by John_Mwaniki
AUDJPY profit target reached once again, prepare to sellSell below 88.40. Stop loss at 88.66. Take profit at 87.91. Reason for the trading strategy (technically): Price has dropped perfectly to our profit target once again. We look to sell on major resistance at 88.40 (Fibonacci retracement, horizontal overlap resistance, Fibonacci extension) for a further drop to at least 87.91 (Fibonacci extension, horizontal swing low support). Stochastic (21,5,3) is seeing major resistance below 96% where a corresponding drop could occur
Short
by MEX_Exchange
2
AUDJPY Bollinger Band Spike, New Downtrend PossibleHi traders, I have my trade on break-even after we moved lower once the 1H candle closed (my entry is at the first spike, green candle) and now I am anticipating a break of the support area marked in orange. Once this breaks, I will lock in some profits and very likely add to a 2nd position, depending how everything forms. Be aware that trading Bollinger Band spikes require many rules and putting to break-even usually should not take longer than one candle after it went into your predicted direction. For more information simple head to my Telegram group which is free to join. t.me (This is not a trade recommendation!)
Short
by MyChildTradesBetterThanYou
AUDJPY Quick reversal to the downside after support breakHi traders, Bollinger Band Spikes give me the best trades but even if we have multiple spikes here, they are not valid for me. I look at the price action, the angle of the spike, previous support/resistance areas and so on. Taking every Bollinger Band spike blindly will get you in a lot of trouble. We also see a slight RSI Divergence. In this chart, I am waiting for a clean break to the downside, breaking the support area, then entering after the candle has closed. (This is not a trade recommendation!)
Short
by MyChildTradesBetterThanYou
AUDJPY Countertrend timeAs we noticed from 2 weeks before AUDJPY parrity made its Highest high point which was also predicted as strong resistance which 89.50 Band. Adding to this significant drops at volality in August triggered this chart to start it's countertrend as 8th month started. Now chart holds 86.25 point which forms a good opportunity to sell. 86.10 is the key level which will be a strong support to pass for AUDJPY but closure below this band will lead 85.50 and 84.35 band to us. 85.50 band holds weekly support level and 84.35 holds fibbo %-27 level to reach.
Short
by mert.kucukengin