AUDJPY Needs Deeper Pullback!Price showed 4H long lower shadow , as a signal of finishing pullback, but as we see, bullish momentum is weak and deeper downward movement is probable.
Aussiejpy
AUDJPY LongHey traders, in today's trading session we are monitoring AUDJPY for a short term buying opportunity around 83 zone, once we will receive any bullish confirmation the trade will be executed.
Trade safe, Joe.
where to BUY AUDJPY audjpy is on an uptrend
the market is ranging and there is still a lot of buy power
my plan is to enter a buy position at the breakout
AUDJPY Short Term Bearish Analysis AussieJPY had a straight Bullish run for several days now, and on the daily it is now at past support that can become future resistance. if you take a look here at www.mataf.net and you pull up the Aussie Daily chart and you pull up the JPY Daily chart you will see that the Aussie is hitting a past support that can become future resistance and the the JPY is hitting a past resistance that can become future support so now when combined as the AUDJPY it becomes very strong that it has a good chance going down short term.
Now in order to confirm the move to put some more odds in m favor I'm waiting for the hourly chart to break down from its most recent support level that it has formed then I will look to enter going for about 60 pips or so till the next level of resistance that can become future support...
I hope this makes sense to you if yes let me know, and even if not tell me why you think differently tell me what you see that iam missing.
Thank You!
AudJpy - Bear FlagLast week the AudJpy sold off breaking below key support at 85.703. A correction and possible re-test of this broken support turning resistance would provide the corrective part of a Bear Flag formation and provide opportunities for Shorts down towards the next key area of support to the downside at 83.705.
AudJpy - ABC CorrectionAudJpy broke above key resistance at 88.337 and is now looking to re-test this area of confluence (horizontal support and trend line support) with an ABC corrective pattern. This provides a great opportunity to look for longs up towards the target of the 89.352 next week.
AUDJPY breakout scenarioWaiting for AUDJPY to breakout and going to short if theres price action after retracement.
