On the Aussie/Yen we are in a Bearish Market, therefore analyzing for short opportunities. Dropping into the 4hr time frame we have identified levels of structure to look out for, coming up close to our Daily Resistance we speculate price form a Rising Wedge around our Resistance, we can find reason to enter the market at the break out of this pattern or wait for...
Price Action (Technical Analysis): 4 hour time-frame we find price forming an Advanced Breakout Pattern. Price is consolidating at our Key Support Zone so we expect an exhaustion from price pushing down heavily to this rally. 1 thing we have in mind is that buy orders will be entering into this zone because of historical data shows us that this pair is buyer...
Price Action (Technical Analysis): Very interested in the set-up the Aussie/Yen has presented us, we see an ascending channel of buy orders swarming in telling us buyers are gaining their confidence here at Key Level of Support (Weekly). Price is above our 100 Day EMA and will use it as support and look for Buy Opportunities if the Aussie breaks above and tests...
Trade Idea Broken out of the channel formation to the upside. There is scope for mild selling at the open but losses should be limited. Bespoke support is located at 75.10. We have a 50% Fibonacci pullback level of 75.10 from 73.93 to 76.20. Expect trading to remain mixed and volatile. We look to Buy at 75.10 Stop: 74.80 Target 1: 76.10 Target 2: 76.35 ...
Trade Idea Broken out of the channel formation to the upside. There is scope for mild selling at the open but losses should be limited. Bespoke support is located at 75.30. Further upside is expected although we prefer to set longs at our bespoke support levels at 75.30, resulting in improved risk/reward. Expect trading to remain mixed and volatile. We look...
There are several projections of harmonics as shown on the chart above, take the opportunity to buy at the good levels according to your strategy ...
I hope a few people got on to my call last night which is currently sitting pretty with 100 pips in the green I do expect bull to retrace us however. I'm also changing to light blue blackground as I believe this is more calming for the mind and trading is all mindset and an edge, happy trading, trend is your friend go bull for a bounce then rejoin the bears, all...
AudJpy - Weekly chart - I see price in a bullish structure and on a great zone to enter a buy trade with great risk to reward of over 7:1 and possibly hold the trade for 3 months. Swing trade based on weekly time frame.
Last 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 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.
My analysis assumes that the YEN may rise this week and gonna be strong because of BOJ policy Rate this Friday. Drag the Fibonacci level already passed the 61.8 % - 50 % level, after the body candle close below 50%. I would enter the position and put the stop loss just above the 61.8 % price which is around 83.200. Just make sure to watch the margin level and...
AUDJPY - D - Long AUDJPY forming correction, Looking for upside break, inside bigger correction
Difficult to see continued strength in aussie yen. Aussie pairs may be getting stronger, looks like a deeper correction may be in store for aussie yen. I would look for some kind of sell, perhaps steer clear.
Price is struggling at weekly resistance price has broken below the weekly indecision candle Could see a reversal down to previous weekly support
AFTER A CONSOLIDATION PRICE SHOULD HIT THE 77.963 LEVEL AND RESISTANCE TREND LINE. PRICE SHOULD FALL TO 75.361 LEVEL. PLACE A BUY AT 75.361. STOP LOSS 73.472.