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Audjpytradingsetup

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
AU-Yen*pun intended* With the continuing decline of the Aussie despite the higher ups of commodities, the pair has been struggling to push to the upside against a safe-haven currency. The same is occurring with AUDCHF considering that the Swiss Franc is also a safe-haven currency. Last trading session, the AUDJPY pair formed an inside pin bar which may suggest a further decline of the pair. The weakness of the Aussie can also be seen on several pairs except AUDUSD due to the huge sell-off of the Dollar.
Short
by bearvsbullmarket
Resistance Level on AUD/JPYDISCLAIMER: Hi everyone, I'm new to trading and this is just a log book for me on applying everything that I have learned and continue to learn as I go along. That being said, I do not advise you to base your trading on these "ideas". Been looking at the Australian Dollar / Japanese Yen this week. Good and strong uptrend. How long can it last though? Lets take a look at this price level from January 2016, It's only been able to pass it only twice in the past year. But it looks like it might touch that resistance level again, what can we expect? I dont see why it can't break that resistance level one more time but I will most likely come back down thus ending that strong uptrend, and setting up a nice short on this pair. Keep your eyes open and good luck trading!
by EdwardFabianRamirez