Audjpy-short
AUDJPY ShortAssuming the pair continues to be range-bound, riding the short-term bearish trend. Setting up sell stop order with TP 80.513 and SL just a few pips below the 38.2% fib line (@82.378). Must close this trade before the CPI news tomorrow at 9:30am (GMT+8), because considering how bullish the overall sentiment is in COT futures as well as RBA being hawkish in general, there's probability that this pair might have a bullish breakout.
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Daily:
Weekly:
Confidence: B (because of risks mentioned above)
POSSIBLE AUDJPY short SETTING UPMonth Support held at the 81.500 level, strong bullish close of the previous Week's candle momentum heading higher towards the key Week resistance level of 84.300. Further Day resistance is just above this level at 84.500. Looking for a fail of the 84.500 area before entering a short position
1.2RR Trade
Sell limit 84.500
Stop 85.100
Target 83.900
AUDJPY Long Trade SetupHello traders.
I'm expecting either daily X wave and one more down move or totally upside, which will break the previous top.
I believe taking a long trade will be a good idea in both cases. As you can see, a correction is in the making. So, I put an entry order. Minimum target is the completion of daily X wave.
Trade with care...