- Doji candle formed - Key bearish resistance (green line) - Candle formed below strong support at 86.000 - Previous break and retest of yearly bullish support (red line) - Continuation of bearish market sentiment THOUGHTS??
POTENTIAL TREND CONTINUATION ON AUDJPY Price is starting to get rejected @ the 84.2 area and also testing the 50 EMA.. If price holds there could be a move to the downside.. Waiting on daily candle to close to see what will happen.. Right now I'm on the side lines just watching for now! :)
Our call (link below) has hit all targets. Pair has hit highs of 84. Momentum still higher. 83.90 is strong resistance, above which pair finds next resistance at 84 and then 84.30 Advise booking partial profits, raise stops to 83.30, target 84.30
Price action has reached 61.8 retracement level, While also reaching converging levels of resistance. Setup looks for multiple target levels. Looking like a good opportunity for a short. Let me know your feedback.
AUD/JPY has taken strong trendline support at 80.75 and has edged higher to currently trade at 82.62. Momentum studies on the daily charts have turned bullish, Stochs has shown a bullish crossover from oversold levels and RSI has bounced off from near 30 levels. Pair has broken above 5-DMA at 82.16, weakness only below 80.90 (trendline support). Upside finds...
TRADE UPDATE Previous analysis: Please see original analysis linked below for in-depth explanation of our long bias. We are still awaiting a break above this red short-term down trend line on the hourly chart to execute a long position on this pair. We will also need to see confluence from our price action forecasting algorithm forecasting a move to the...
TRADE UPDATE Previous analysis: Please see original analysis linked below for in-depth explanation of our long bias. We are still awaiting a break above and close above this red short-term down trend line on the hourly chart to execute a long position on this pair. We will also need to see confluence from our price action forecasting algorithm forecasting a...
AUD/JPY broke rising trendline support at 84 on Tuesday's trade, downside is being capped by daily cloud which is strong support. Pair struggles to breach cloud top currently at 82.90, we see scope for further downside only on a decisive close below. Immediate support and resistance are located at 82.90(cloud top) and 83.67 (Mar 6th highs)...
TRADE UPDATE Previous analysis: Please see original analysis linked below for in-depth explanation of our long bias. We are still awaiting a break above this red short-term down trend line on the hourly chart to execute a long position on this pair. We will also need to see confluence from our price action forecasting algorithm forecasting a move to the...
AUD/JPY under heavy selling pressure in Asia, dented by risk-off across markets. Selling in the Nikkei 225 which was down over 3%, (adding pressure on Yen crosses). The pair printed a day low of 85.78 and has since pared some losses to currently trade around 85.92. Downside has seen breach of strong trendline resistance at 85.98, price action below hourly cloud...
Being highly correlated to AUDUSD , AUDJPY has also been in quite the uptrend. It appears to be a bit more choppy and indecisive as compared to AUDUSD , but overall it is very bullish. We are looking to play a potential long on this pair if we see price action break above and close above the current trend-line resistance on the hourly chart in confluence with...
Display: FX:AUDJPY Description: As shown above we have FX:AUDJPY . Currently this pair is Bullish , Since breaking out of consolidation early March. As explained in the post before this we have 2 scenarios present, There is a possiblity we could close above monthly Resistance 86.40 - 86.70 we would likely wait for a pull back to that zone then LONG to 87.000...
Looking at the daily time frame we can see that price action has been in a down trend for a while now. PA (price action) has been ranging in a descending channel. PA is below the 200sma which is always key for short positions. It increases the odds of a successful trade. You can see from the risk reward on the screen that this is a good/ high probability trade (...
Display: FX:AUDJPY Description: As shown above we have FX:AUDJPY . Currently this pair is Bullish, Since breaking out of consolidation early March. So we have two scenrios present, On one hand a close above monthly Resistance 86.40 - 86.70 we would likely wait for a pull back to that zone then LONG to 88.000. On the Monthly we have a Bullish Engulfing...
AUD/JPY extends rangebound between 84.00 and 86.38 March 13th high, while short-term bias remains bullish. Renewed optimism on the Asian equities alongside a recovery in gold and copper prices underpin the sentiment around the resource-linked Aussie. While the Japanese yen remains weak on the back of risk-on rally in the Japanese stocks. AUD/JPY trades a rising...
I'm bearing on the AUD/JAP based on the double top that formed on the daily chart. The recent spinning was followed by a weak candle which leads me to believe its going south. Stop lost is placed just above double tops peaks. Target 1, 2,and 3 are place on graph. Target 3 was chosen based on consolidation that was shown previously around the 81.00, also it a...
Bearish on AUDJPY based on multiple confluences. Strong double top formation and I am now expecting a continuation to the downside. Price has broken the counter trend line. As long as price doesn't go above the ~86.35 level I am completely bearish on this pair. Risk Reward: 1:75 -Safe Trading and Best Regards
Daily cloud was strong resistance for AUD/JPY upside, price action in the pair has now has broken above the cloud. Upside has extended above the 85.70 levels which is is 61.8% Fib retracement of 90.725 to 77.582 fall. Momentum is higher, RSI strength seen at 64 levels, and major moving averages are biased higher. Pair finds next resistance at 87.32 (200-DMA),...