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AUDJPY profit target reached perfectly, prepare to buy again forBuy above 82.94. Stop loss at 82.54. Take profit at 83.66. Reason for the trading strategy (technically): Price has shot up and reached our profit target perfectly from yesterday. We remain bullish looking to buy above 82.94 major support (Fibonacci retracement, Fibonacci extension, horizontal swing low support, ascending support line) for a push up to at least 83.66 resistance (Fibonacci extension, horizontal swing high resistance). Stochastic (21,5,3) is also seeing strong ascending support holding price up really well.
Long
by MEX_Exchange
USDCAD profit target reached perfectly again, prepare to buyBuy above 1.3288. Stop loss at 1.3251. Take profit at 1.3387. Reason for the trading strategy (technically): Price has dropped perfectly and reached our profit target on USDCAD once again for the third time in a row. We prepare to buy above 1.3288 support (Fibonacci retracement, Fibonacci extension, Elliott wave theory) for a corrective bounce up to 1.3387 resistance (Fibonacci retracement, horizontal pullback resistance). RSI (34) is testing out 39% support and we expect a bounce soon.
Long
by MEX_Exchange
USDCAD profit target reached perfectly, remain bearish Sell below 1.3485. Stop loss at 1.3551. Take profit at 1.3387. Reason for the trading strategy (technically): Price has dropped perfectly from our selling area and has reached our profit target. We prepare to sell further below 1.3485 resistance (Fibonacci retracement, horizontal pullback resistance) for a further push down to 1.3387 support (Fibonacci extension, horizontal swing low support). RSI (34) is holding really well below our 55% resistance and has good downside potential for our drop.
Short
by MEX_Exchange
AUDJPY approaching major resistance, prepare to sellSell below 83.48. Stop loss at 83.93. Take profit at 82.80. Reason for the trading strategy (technically): We prepare to sell on major resistance at 83.48 (Fibonacci retracement, Fibonacci extension) and expect a strong reaction from that level to drive price down to at least 82.80 support (Fibonacci retracement, horizontal overlap support). Stochastic (34,5,3) is seeing major resistance below the 91% level where we expect a further drop from. Correlation analysis: Overall JPY strength is expected today with drops on AUDJPY and USDJPY. Furthermore, we expect AUD weakness with a drop on AUDUSD expected too.
Short
by MEX_Exchange
USDJPY Get down you dirty dog! #bitchbetterhavemymoneySo USDJPY has been grinding down the price levels for some time now, here is a simple profitable set up for a further short scenario. Take a Short from here and hold. 101 is my personal target profit take and I suggest if you follow that you do the same. My stop is set at 106.600 Time duration of the trade I would expect to be no longer than two weeks at most. Good luck if you take it on. Let me know with some feedback and banter.
Short
by RSCexclusive