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Audjpyshort

AUDJPY, 4hr tf, textbook example of Elliott WaveWe saw a textbook setup of Elliott wave principle. Wave-iii stop exactly at 1.618 fibonacci extension and price then retrace for wave-iv. We could see wave-iv stop retracing any time soon. As price now facing EMA-50 as resistance. We still need protective stop loss to play it safely so we will use 84.00 as our stop loss because there is where wave-i located. Sell AUDJPY 83.60 Stop loss 84.00 Take profit 81.70 (4.75R) Use only 1-2% risk Good luck
Short
by HayatoDragonFX
14 June: AUDJPY could see a bounce hereHi everyone! Looking to play a small bounce on AUDJPY here, in line with our bullish view on the bigger time frames. On the daily time frame, prices are holding above the ascending trend line and we could see a further upside from here. When we look at the H4 time frame, prices are testing the 78.6% retracement as well where we saw a slight bounce above this level. Going down to the H1 time frame and taking a retracement of the last move, we can see that prices are pulling back to the 78.6% retracement where we could see a bounce here, in line with the entry level. Stop loss is placed slightly lower than the previous low and our take profit target is at the -27.2% retracement. What are your thoughts on AUDJPY?
Long
by T3-Consultancy
AUDJPY, Looking for further downsideThe market has been corrective for awhile and have formed significant rejections at the key resistance. Recent momentum is leaning towards bearish as the ascending trendline and minor support was already broken out. An upside recovery would require the market to find support near 84.71 level and break resistance at 85.1 Key Factors: - Broken out trendline and triangle with a strong bear impulse - Price appears to be consolidated and making its way to retest the previously broken out support - Further downside potentials towards next level of major support Entry Conditions: - Selling at previous support ~ current resistance (B) once downside confirmations are formed - Targeting a conservative downside movement towards 84.00 level and risk managed above the current resistance zone on 1:2-1:3 RRR trade
Short
by IAmDavidX
AUDJPY Is Heading Lower In Five WaveHi Traders, AUDJPY just completed a 5-3 wave cycle and the price has the potential to head lower in five-wave to complete the sequence. Wave A is a leading diagonal followed by a double ZigZag corrective pattern in wave B. According to EW theory, the market resumes in the direction of the five-wave sequence once a correction is completed. Price also retests the resistance level four times, you're just a profit away! What's your view on AUDJPY? Let me know in the comment. Thanks for reading!
Short
by Veejahbee