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Audjpyanalysis

Potential Correction in AUDJPY Following Rally Towards High SuppAUDJPY has shown strong performance since early February 2024, experiencing a significant rally from the level of 95.640 to reaching today's high at 99.024. However, this movement has brought the currency pair into the territory of the highest supply level. With this condition, there is potential for AUDJPY to undergo a temporary correction. Technical Analysis: On the daily chart, it can be observed that AUDJPY has reached a significant resistance level around 99.024, which is the current highest supply level. The RSI (Relative Strength Index) indicates overbought conditions, suggesting that this currency pair may have moved too far beyond its short-term fair value. There is potential for the formation of a bearish reversal pattern such as a double top or shooting star around the current supply level, adding validity to the correction prediction. Projection: Taking into consideration the above factors, AUDJPY is likely to undergo a minor correction towards the level of 97.737 in the coming sessions. This could present an opportunity for traders to take short-term profits or to seek entry points for short positions with correction targets. However, it is important to monitor market developments closely and set appropriate stop losses to manage risk effectively.
Short
by fardycurry
Just closed BUYS on AUDJPYWhat's up folks, Just closed my buy on AUDJPY Let me explain These are my confirmations\questions > Question 1 - Was AUDJPY in momentum (bullish or bearish)? Yes, AUDJPY is in bullish Momentum currently Question 2 - Who is interested (at this time)? Buyers are interested at this time Question 3 - Where are their stop losses? Stop losses would have been right below the highlighted levels (orange circles) Question 4 - Have those stop losses been taken out? Yes I believe Stop losses have been taken out already on AUDJPY (orange zig zag line) Question 5 - Does the set up make sense for me to pursue? Yes I believe it makes sense for me to pursue this trade given the information I have The trade was closed at 1:3.98, very happy with the profit from this trade given the RRR so I am taking it and running, on to the next I have many more confirmations I look for, this is just to simplify it so that I can quickly explain to you the reader Downvote if you didn't read this post and didn't try to understand OR Upvote if you did read this post and did try to understand
Long
by Brandon_evo4
This cycle pattern on AUD/JPY hints at risk onAUD/JPY is holding above its 100-day EMA, and so far it looks like the spike lower last Thursday will be left unchallenged. This is more of an interesting observation than anything else, but... since July AUD/JPY has printed a prominent spike / higher low every 40 - 47 days. If that pattern is to hold, is suggests the next trough could land at the end of May / beginning of April. Given it is a proxy for risk, does this support a Wall Street rally which currently sits just off if its record highs? Growth outlook remains positive, inflation is falling and the BOJ are unlikely to shift away from an ultra-dovish policy. As long as any currency gains against the yen are not too aggressive, perhaps AUD/JPY is looking at another crack at 98. Although a feature of this 40-47 day cycle is for gains to be erratic and choppy before producing a sudden selloff into its spike low.
Long
by CityIndex
DeGRAM | AUDJPY selling opportunity from the fibo golden zoneAUDJPY broke and closed below the resistance at 97.000, which is psychological as well. The market also broke the ascending channel, indicating a trend shift. Price at confluence level, where resistance is at 97.000, dynamic resistance level, and fibo level 61.8%. We expect a bearish move from the confluence. ------------------- Share your opinion in the comments and support the idea with Like. Thanks for your support!
Short
by DeGRAM
2
AUDJPY M30 / NEW Forecast / Expecting a Bearish Move 📉Hello Traders! This is my idea related to AudJpy M30. I expect a bearish move on Monday, and I will look for a short trade entry if confirmed. As an objective, I want to see a move until the BOSS level. Traders, if you liked my idea or if you have a different vision related to this trade, write in the comments. I will be glad to see your perspective. ____________________________________ Follow, like, and comment to see my content: www.tradingview.com
Short
by GoodTradeST
2
AUDJPY - Potential long ✅Hello traders! ‼️ This is my perspective on AUDJPY. Technical analysis: Here we are in a bullish market structure from 4H timeframe perspective, so I am looking for longs. I want price to continue the retracement to fill the imbalance and then to reject from bullish order block + institutional big figure 96.500. Fundamental news: This week on Thursday we will see results of Unemployment Rate on AUD. Like, comment and subscribe to be in touch with my content!
Long
by Snick3rSD