AUDJPY testing 1st resistance , further upside expected !AUDJPY is testing our 1st resistance where the 61.8% fib retracement joins the horizontal overlap resistance. Price could drop further from there towards 1st support where horizontal swing low is. EMA and trendline are both showing signs of resistance.
Aud-jpy
Breakout Identified in AUDJPYThe Breakout Opportunities system has just sold AUDJPY at 74.53. The system recommends entering this trade at any price between 74.384 and 74.63. The signal was issued because the AUDJPY has broken its 24-hour low while our Speculative Sentiment Index was at 2.684, suggesting that the AUDJPY may have further to fall. A stop loss has been set at the 24-hour high of 74.93 and a profit target has been set at the 1 Day ATR level at 73.946. The system will move the stop to the next 24-hour high every time that 24-hour high is lower than the previous 24-hour high. Breakout Opportunities is a breakout strategy that aims to catch the significant moves that typically happen when currencies break through technical support or resistance.
Signal ID: 73782
Time Issued: Tuesday, 27 October 2020 09:09:15 GMT
Status: open
Entry: 74.384 - 74.63
Limit: 73.946
Stop Loss: 74.930
AUDJPY is testing our upside confirmation, more upside ! AUDJPY is testing our upside confirmation where the 50% fib retracement joins the horizontal swing high. Price could bounce further from there towards 1st resistance where horizontal swing high is. EMA and trendline are both showing signs of support.
AUDJPY breaking below downside confirmation , further downside eAUDJPY is breaking below its downside confirmation where the head and shoulder neckline and the 78.6% fib retracement are. If price closes below the downside confirmation, we might see further downside from here towards our 1st support where the horizontal swing low is. MACD is also showing signs of bearishness.
AUDJPY 4hour Analysis October 25th, 2020AUDJPY Long idea
Weekly Trend: Bullish
Daily Trend: Bearish
4Hour Trend: Bearish
1Hour Trend: Bullish
Trade scenario 1: Price action continues with the weekly & 1hour bullish trend. This could be the first break of structure before the next bullish leg. To play it conservatively we are going to wait for a break and retest 75.000. Look to enter long on strong bullish setups and target toward our next major resistance level around 76.000
Trade scenario 2: Bearish momentum steps in and confirms this structure as a large double top pattern. Look to enter short on a lower high below 74.500 and target lower toward our weekly level.
AUDJPY - WEEKLY PREDICTIONWe're long now!
Closing above 74.60 was key to seeing the Double Bottom validated and not just consolidation and weekly support.
Now we've had multiple bullish daily closes (good size candles as well), we have confirmation of the Double Bottom off that order block at 74.20 and are looking for buys to add to our current open position (running around 2%).
Targets?
1st target is the daily resistance and this is where price could begin to consolidate or bounce off in the short term, especially given the current climate with risk changing every session.
Target 2 is the actual completion of the Double Bottom pattern, which is the extension above the neckline, which lines up perfectly with the previous highs created in August
AUDJPY in a Falling wedge.AUDJPY - Short term - We look to Buy a break
Price is in a falling wedge bullish pattern
Posted a Triple Bottom formation.
Previous resistance located at 74.32.
A break of 74.32 is needed to confirm follow through bullish momentum. Bullish divergence is expected to support prices.
The 50% Fibonacci retracement is located at 75.36 from 76.52 to 74.20.
Risk/reward is ample to call a buy trade.
Our profit targets will be 75.36 and 75.50
Resistance: 74.32 / 74.46 / 75.36
Support: 74.32 / 74.20 / 74.17
AUDJPY SELL X2A good opportunity with 2 options.
Sell now or sell in case of break. What are the advantages and disadvantages?
If you sell now:
- The stop will be small - just above today's candle.
- The profit will be higher - 140 pips.
- It is more risky - there is no confirmation of the movement.
If you sell after a breakout:
- The stop will be bigger - above the previous peak.
- The profit is smaller - up to 73.05.
- Lower risk - there will be confirmation and break.
Which option to choose depends on your risk appetite. In both cases, calculate correctly the volume with which to go in!
For additional questions about money management you can contact us!
Like and comment to support us!
AUDJPY dropping from 1st resistance , further downside ex
AUDJPY is dropping from 1st resistance and is heading towards our 1st support where the 61.8% fib retracement and 100% fib extension are. EMA is also suggesting further downside. MACD is also signalling a change in trend with the signal line crossover happening.
AUDJPY testing a daily support 🦐After our last idea on this pair (below), AUDJPY is currently testing daily support.
The price is moving inside a descending channel and struggles to break the area at 74.200
IF the price will break and close below we can set a nice short order according to Plancton's strategy.
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Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> >4h structure.
Here is the Plancton0618 technical analysis , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
AUDJPY breaking descending trendline , further rise expected !AUDJPY is breaking above our descending trendline and is testing our upside confirmation where the 23.6% fib retracement and 78.6% fib extension are. If price could break above, it could rise further towards our 1st resistance at 75.416 where the 50% fib retracement are. Note that EMA is also showing signs of bearishness for price.
AUDJPY testing downside confirmation , further drop expected ! AUDJPY is testing our downside confirmation where the previous swing low is, if price could break below, it could head south towards our 1st support at 73.838 where the 161.8% and -27% fib retracement are. EMA is also showing signs of bearishness for price.
AUDJPY to Resume DownsideAUDJPY was held above 75 since the end of September but finally submerged below last week.
The market has pulled back to 75 and it faced rejection early in the Asia market together with an inside bar reversal pattern and a falling trendline.
Look to sell AUDJPY now with SL just above 75 or 75.3 for conservative traders. The primary target will be 72.90.
*AUD was the weakest and JPY was the strongest among other major peers last week.
AUDJPY 4hour Analysis October 18th, 2020AUDJPY Short idea
Weekly Trend: Bullish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: Price action continues bearish after the break of this range. From here we want to see structure form followed by strong bearish pressure. Enter on a confirmed retest and target lower toward key support and negative fib levels.
Trade scenario 2: Price action goes bullish and breaks back into the above range. If we see a higher low form above 75.000 you could go long and play the range.
AUDJPY breaking a daily support 🦐AUDJPY on the daily chart is moving inside a descending channel.
The price after hitting the upper trendline turn and broke the minor uptrending channel.
Currently, the market is testing a daily resistance and if we see close and retest we can look for a nice short position according to Plancton's strategy.
–––––
Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> >4h structure.
Here is the Plancton0618 technical analysis, please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
AUDJPY a possible break below? 🦐AUDJPY on the daily chart is creating a bear flag.
The market has created a minor uptrending channel and yesterday the price hit the lower trendline of it.
IF the price will break and close below the 750.450 area and consequently break the channel and the support structure, we will set a nice short order according to Plancton's strategy.
–––––
Follow the Shrimp 🦐
Keep in mind.
• 🟣 Purple structure -> Monthly structure.
• 🔴 Red structure -> Weekly structure.
• 🔵 Blue structure -> Daily structure.
• 🟡 Yellow structure -> 4h structure.
• ⚫️ Black structure -> >4h structure.
Here is the Plancton0618 technical analysis , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
AUDJPY 4hour Analysis October 11th, 2020AUDJPY Long idea
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: Price action continues with this rally. We’re looking to enter long on a confirmed higher low above the 76.000 leve. To confirm the continuation we need some strong bullish setups and a clean break of our monthly resistance level would add confidence to a larger push.
Trade scenario 2: Price action rejects the monthly resistance zone and begins pushing lower. Look to enter short on a confirmed lower high below 76.000. Target the bottom of the range.