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Audjpydaily

AUDJPY forming a nice reversal pattern, remain bearishSell below 87.89. Stop loss at 88.47. Take profit at 86.69. Reason for the trading strategy (technically): Price is forming a nice reversal below 87.89 resistance (Fibonacci retracement, Elliott wave structure, triangle formation) and we expect to see a nice break out from here to push price down towards 86.69 support (Fibonacci retracement, horizontal overlap support). RSI (34) is right on pullback resistance where we expect a corresponding drop.
Short
by MEX_Exchange
AUDJPY dropping perfectly as expected, remain bearish looking Sell below 87.89. Stop loss at 88.47. Take profit at 86.69. Reason for the trading strategy (technically): Price has continued to drop strongly as expected after breaking our major ascending support line. We remain bearish looking to sell below 87.89 resistance (Fibonacci retracement, horizontal overlap resistance, Elliott wave structure) for a further drop to at least 86.69 support (Fibonacci retracement, Fibonacci extension, horizontal support). RSI (34) remains in a descending channel and is approaching pullback resistance.
Short
by MEX_Exchange
2
AUDJPY has broken our support triggering a bearish moveSell below 88.46. Stop loss at 89.21. Take profit at 86.69. Reason for the trading strategy (technically): Price has finally broken our ascending support and overlap support at 88.46 to trigger a strong bearish move. We look to remain bearish and sell on strength below 88.46 (Fibonacci retracement, horizontal overlap resistance) for a further drop towards 86.69 support (Fibonacci retracement, horizontal support). Our next intermediate support level to watch out for is 87.62. RSI (34) is now in a bearish descending channel and we expect this to continue till it finds new support.
Short
by MEX_Exchange
AUDJPY setting up for a strong reversal, prepare to sell Sell below 88.46. Stop loss at 89.21. Take profit at 86.69. Reason for the trading strategy (technically): Price is starting to reverse below strong resistance at 89.21 (Fibonacci retracement, horizontal swing high resistance, bearish divergence) and we need to wait for a confirmation to go short on this trade. Price would need to break our ascending support line and also support at 88.46 (Fibonacci retracement, horizontal overlap support) to trigger a bearish move from here towards 86.69 support (Fibonacci retracement, horizontal support). RSI (34) sees major bearish divergence vs price signalling that a reversal is impending. We can also see a bearish exit as a precursor that a reversal on price is impending.
Short
by MEX_Exchange
1
AUDJPY testing major resistance, remain bearishSell below 88.09. Stop loss at 88.71. Take profit at 86.69. Reason for the trading strategy (technically): Price continues to test our major resistance area at 88.09 (Fibonacci retracement, Fibonacci extension, horizontal swing high resistance) and we remain bearish looking for a drop towards 86.69 support (Fibonacci retracement, horizontal support). Stochastic (55,3,1) is seeing major resistance at 99% and is starting to drop nicely.
Short
by MEX_Exchange
1
AUDJPY continues to test resistance, remain bearishSell below 88.09. Stop loss at 88.71. Take profit at 86.69. Reason for the trading strategy (technically): Price has reached our selling area and continues to test major resistance at 88.09 (Fibonacci retracement, horizontal swing high resistance). We expect a strong drop from this level towards 86.69 support (Fibonacci retracement, horizontal support). Stochastic (55,3,1) is seeing major resistance at 99% and is starting to drop nicely signalling a further drop could be expected.
Short
by MEX_Exchange
AUDJPY continues to test major resistance!Price continues to hover and test our major resistance at 88.04 (61.8% Fibonacci retracement, 78.6% Fibonacci retracement, horizontal swing high resistance, bearish price action) and a strong reaction could occur at this level to push price down towards 86.20 support (50% Fibonacci retracement, horizontal pullback support). Stochastic (34,5,3) is seeing major resistance below our 97% level of resistance. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by Tickmill
2
AUDJPY testing major resistance, time to go shortSell below 88.09. Stop loss at 88.71. Take profit at 86.69. Reason for the trading strategy (technically): Price is testing major resistance at 88.09 (Fibonacci retracement, horizontal swing high resistance) and we expect a strong drop from this level towards 86.69 support (Fibonacci retracement, horizontal support). Stochastic (55,3,1) is seeing major resistance at 99% and is starting to drop nicely signalling a further drop could be expected.
Short
by MEX_Exchange
AUDJPY DIDN'T MEET SHORTING CRITERIA, LOOKING LONG & HERE'S WHY!If you have a look at my previous analysis on this pair, price seemed to have broken an ascending trendline, combined with other factors. I had reason to believe price would plummet. However, when it came to execution, price didn't meet the reasons I needed to enter short. I then changed my mindset and looked at the alternative. Price on the daily has formed an Inverse head and shoulder's pattern which tells me that we're looking for positions to the upside. Furthermore, the was a break out from a weekly structure, again, telling me "long". Currently, price has broken past a level of resistance and I'm waiting for the momentum to exhaust and retest that area as new support before looking long. A very nice Risk-Reward ratio.
Long
by damianngema
AUDJPY reversing nicely below major resistanceSell below 86.67. Stop loss at 87.34 Take profit at 84.69. Reason for the trading strategy (technically): Price has started to form a really nice reversal pattern with bearish divergence being formed. We look to sell below major resistance at 86.67 (Multiple Fibonacci retracement, horizontal overlap resistance, bearish divergence) for a push down to at least 84.69 support (Fibonacci extension, horizontal swing low support). Stochastic (55,3,1) is seeing major resistance below 98% where we expect a corresponding drop from. We’re also seeing bearish divergence vs price signalling that a reversal is impending.
Short
by MEX_Exchange
5
AUDJPY right below major resistance, remain bearishSell below 86.67. Stop loss at 87.34. Take profit at 84.69. Reason for the trading strategy (technically): Price continues to rise towards our major resistance area. We remain bearish looking to sell below 86.67 resistance (Fibonacci extension, Fibonacci retracement, horizontal pullback resistance) for a push down to at least 84.69 support (Fibonacci retracement, horizontal swing low support). Stochastic (55,3,1) is seeing major resistance below 98% and we expect a corresponding reaction off this level.
Short
by MEX_Exchange
1
AUDJPY approaching major resistance, remain bearishSell below 86.67. Stop loss at 87.34. Take profit at 84.69. Reason for the trading strategy (technically): Price continues to rise towards our major resistance area. We look to sell below 86.67 resistance (Fibonacci extension, Fibonacci retracement, horizontal pullback resistance) for a push down to at least 84.69 support (Fibonacci retracement, horizontal swing low support). Stochastic (55,3,1) is seeing major resistance below 98% and we expect a corresponding reaction off this level.
Short
by MEX_Exchange
1
AUDJPY rising nicely from our buying area, remain bullishBuy above 84.78. Stop loss at 84.39. Take profit at 86.13. Reason for the trading strategy (technically): Price has continued to rise nicely from our buying entry. We remain bullish above 84.78 support (Fibonacci retracement, horizontal swing low support) for a further rise to at least 86.13 resistance (Fibonacci retracement, horizontal swing high resistance, Fibonacci extension). Stochastic (55,3,1) is seeing strong support above 1.4% and has good upside potential following the recent bounce.
Long
by MEX_Exchange
AUDJPY remain bullish for a further riseBuy above 85.36. Stop loss at 84.39. Take profit at 86.67. Reason for the trading strategy (technically): We remain bullish looking to buy on dips above 85.36 support (Fibonacci retracement, horizontal pullback support, price gap) for a further push up to at least 86.67 resistance (Multiple Fibonacci retracement, horizontal pullback resistance). Stochastic (89,3,1) warns that we are seeing immediate resistance so we should exercise caution on this trade.
Long
by MEX_Exchange
1
AUDJPY bouncing off nicely from our support, remain bullishBuy above 85.36. Stop loss at 84.39. Take profit at 86.67. Reason for the trading strategy (technically): Price has dropped to our buying entry and bounced off perfectly. We look to buy on dips above 85.36 support (Fibonacci retracement, horizontal pullback support, price gap) for a further push up to at least 86.67 resistance (Multiple Fibonacci retracement, horizontal pullback resistance). Stochastic (89,3,1) warns that we are seeing immediate resistance so we should exercise caution on this trade.
Long
by MEX_Exchange
AUDJPY remain bullish for a further riseBuy above 85.36. Stop loss at 84.39. Take profit at 86.67. Reason for the trading strategy (technically): Price has shot up as expected and is fast approaching our profit target. We look to buy on dips above 85.36 support (Fibonacci retracement, horizontal pullback support, price gap) for a further push up to at least 86.67 resistance (Multiple Fibonacci retracement, horizontal pullback resistance). Stochastic (89,3,1) warns that we are seeing immediate resistance so we should be expecting a drop soon for us to get in at a cheaper price.
Long
by MEX_Exchange
AUDJPY bouncing nicely and making a bullish exit, remain bullishBuy above 84.53. Stop loss at 83.57. Take profit at 86.67. Reason for the trading strategy (technically): Price has started to bounce nicely from our buying area and recent price action sees a bullish exit being triggered. We remain bullish above major support at 84.53 (Fibonacci retracement, long term horizontal overlap support, bullish divergence) for a push up to at least 86.67 resistance (Multiple Fibonacci retracements, horizontal pullback resistance). Stochastic (89,3,1) is seeing bullish divergence vs price signalling that a reversal is impending. We can also see a bullish exit triggering further bullish momentum.
Long
by MEX_Exchange
AUDJPY still on our buying entry, remain bullishBuy above 84.53. Stop loss at 83.57. Take profit at 86.67. Reason for the trading strategy (technically): Price continues to test our buying area. We remain bullish above major support at 84.53 (Fibonacci retracement, long term horizontal overlap support, bullish divergence) and we look to play a bounce above this level to push price up to at least 86.67 resistance (Multiple Fibonacci retracements, horizontal pullback resistance). Stochastic (89,3,1) is seeing bullish divergence vs price signalling that a reversal is impending.
Long
by MEX_Exchange
AUDJPY bouncing up perfectly, remain bullishBuy above 84.53. Stop loss at 83.57. Take profit at 86.67. Reason for the trading strategy (technically): Price is starting to bounce off our buying level. We remain bullish above major support at 84.53 (Fibonacci retracement, long term horizontal overlap support, bullish divergence) and we look to play a bounce above this level to push price up to at least 86.67 resistance (Multiple Fibonacci retracements, horizontal pullback resistance). Stochastic (89,3,1) is seeing bullish divergence vs price signalling that a reversal is impending.
Long
by MEX_Exchange
1
AUDJPY playing a corrective bounceBuy above 84.53. Stop loss at 83.57. Take profit at 86.67. Reason for the trading strategy (technically): Price is on major support (Fibonacci retracement, long term horizontal overlap support, bullish divergence) and we look to play a bounce above this level to push price up to at least 86.67 resistance (Multiple Fibonacci retracements, horizontal pullback resistance). Stochastic (89,3,1) is seeing bullish divergence vs price signalling that a reversal is impending.
Long
by MEX_Exchange
AUDJPY testing major support, remain bullishBuy above 84.57. Stop loss at 83.63. Take profit at 86.67. Reason for the trading strategy (technically): Price is still testing major support at 84.57 (Fibonacci retracement, horizontal overlap support, Fibonacci extension) and we expect to see a bounce above this level to push price up to at least 86.67 resistance (Fibonacci retracement, horizontal pullback resistance). Stochastic (34,3,1) is seeing strong support above 6.1% where we expect a corresponding bounce from. Correlation analysis: We’re expecting JPY weakness with USDJPY expecting a bounce too.
Long
by MEX_Exchange
2