Long

#AUDJPY: Bottom's in?

Updated

I like the confluence of signals here, conspiring for a major bottom in AUDJPY. Weekly down trends have expired, daily is oversold and turning up from an already completed down trend and sentiment has been tremendously negative in this pair. I suspect a major turning point happened last week in small caps and currencies and other beaten down assets, like China stocks, etc.
Worth a small shot with low risk here, stop loss at last week's low is fine, don't risk over 2%, perhaps 0.25% is fine.

Cheers,

Ivan Labrie.

Note

Note

Looks like a major bottom, interesting that it is visible in the cross pair, and as well. Certainly a big macro signal here...Risk on.

Note

First resistance hit:

I'm taking 80% off the table and setting a break even stop loss for the rest.

Note

Bottom was in after all...There's a new bullish signal confirming a daily bottom, after the initial run in the hourly. This was a reaction to the end of a weekly down trend.

Note

We have a new setup forming...
I'll publish this one separately.

Note

It was the bottom indeed...

IvanLabrie

🔒Want to dive deeper? Check out my paid services below🔒

ivanlabrie.substack.com/

Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.