AUDJPY Analysis Price seems to be continuing to replicate its previous bullish trend structure. I will continue to hold. I am anticipating that price will break out bearish from the current correction phase. If you can take a look at the up trend structure, price formed a correction around the same price zone.
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Audjpyshort
AUD/JPY:UPDATE PRICE ACTION+FIBO ANALISYS|DOWNTREND|SHORT 🔔The forecast for the AUD/JPY remains bearish as global economic indicators point towards weaker than expected performance. Traders should expect more volatile trading after the Tenkan-sen, and the Kijun-sen, turned sideways, with the Ichimoku Kinko Hyo Cloud extending its descend.
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sell if it risesAUDJPY is rising to the upper edge of the downtrend channel (daily chart), it has moves that indicates of a breakout since 21st, but only managed to create a falling wedge from my opinion.
I'll be selling when it reaches above 81.15.
SL can be as low as 81.231 or higher above 81.36.
TP: expecting to breakout downward so TP slightly above historical support
AUDJPY ANALYSISJust as the other JPY pairs, AUDJPY has found bullish momentum for quite some days.
Although the 4H timeframe still points bearish, the bullish momentum is not to be overlooked.
Currently, at a resistance level, we're watching how price reacts before taking a position on this pair.
Price did reject the area initially but is now coming back at it with bullish momentum.
We still look for shorts until price breaks above the level confirming that buyers are willing to stay in this trend.
AUDJPY BEARISH SCENARIOAUDJPY is trading in downtrend
Price broke corrective uptrendline
Strong bearish wave ended at level 81.35 then corrective bullish wave rejected from key level corresponding to 50% Fibonacci level at 82.75
Below SMA 100
waiting price to break support level at 82. 05 for short setup
It's expected forming bearish wave to target support level at 80.00
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Is AUDJPY rolling over? 12 July, 2021 As the daily chart shows, the pair has not made a higher high since 10 May. The larger candles have been mostly bearish although the very last candle in this chart indicates that the bulls are not completely out of this contest.
Let us move on and take a look at PA on the H4 chart.
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It confirms what we saw on the daily and also points to an intermediate s/r level around the 82.80 region. I am looking to go short when I see an indication on this chart – perhaps the retracement of Friday will continue for a while.
On the other hand, a bullish continuation and close above 84.12 will negate my analysis and I will look for a bullish continuation signal. Keeping an open mind is the right mindset, although I have to admit, it is not always easy.
My initial bearish targets are located in the 81.50 and 80.75 region.
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