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Audjpydaily

AUDJPY start buying for a strong push upBuy above 86.79. Stop loss at 86.49. Take profit at 87.36. Reason for the trading strategy (technically): Price has formed a cup and handle reversal pattern signalling that we’ll be seeing a strong bounce from here. We look to buy above 86.79 support (Fibonacci retracement, horizontal pullback support) for a push up to at least 87.36 resistance (Fibonacci retracement, horizontal pullback resistance). Stochastic (34,5,3) is bouncing nicely off our 3.7% level with good upside potential. Correlation analysis: We are seeing JPY weakness across the board with bounces expected on AUDJPY and USDJPY.
Long
by MEX_Exchange
AUDJPY approaching major support, prepare to buyBuy above 87.04. Stop loss at 86.85. Take profit at 87.52. Reason for the trading strategy (technically): Price has continued to drop strongly since yesterday. The key now is to wait for a major support level to buy from. We are seeing major support at 87.04 (multiple Fibonacci extensions) and expect to see a short term corrective bounce above this level to at least 87.52 resistance (Fibonacci retracement, horizontal pullback resistance). Stochastic (34,5,3) is seeing major support at 3.7% where we expect a corresponding bounce from. Correlation analysis: We are seeing JPY weakness across the board with bounces expected on EURJPY, AUDJPY and USDJPY.
Long
by MEX_Exchange
AUDJPY remain bullish with price testing pullback supportBuy above 87.53. Stop loss at 87.32. Take profit at 88.02. Reason for the trading strategy (technically): We remain bullish looking to buy above major support at 87.53 (Fibonacci retracement, horizontal swing low support, pullback support) for a push up to at least 88.02 resistance (Fibonacci retracement, horizontal swing high resistance). RSI (34) has broken out of a descending resistance-turned-support line signalling that a change in momentum is fast approaching. Correlation analysis: We are seeing JPY weakness across the board with bounces expected on EURJPY, AUDJPY and USDJPY.
Long
by MEX_Exchange
AUDJPY profit target reached for the 5th time, prepare to buy Buy above 87.80. Stop loss at 87.48. Take profit at 88.25. Reason for the trading strategy (technically): Price has bounced perfectly and reached our profit target for the 5th time in a row. We remain bullish looking to buy on the break of our 87.80 resistance (Fibonacci retracement, horizontal overlap resistance). Once price has broken this level with strength, we look to play the rise to 88.25 resistance (Fibonacci retracement, Fibonacci extension, horizontal swing high resistance). RSI (34) has broken out of a descending resistance-turned-support line signalling that a change in momentum is fast approaching. Correlation analysis: We are seeing JPY weakness across the board with bounces expected on EURJPY, AUDJPY and USDJPY.
Long
by MEX_Exchange
AUDJPY profit target reached for the 4th time, prepare to buyBuy above 87.36. Stop loss at 87.12. Take profit at 87.80. Reason for the trading strategy (technically): Price has dropped nicely and reached our profit target for the 4th time in a row yesterday. We prepare to buy for a small correction above support at 87.36 (Fibonacci extension, bullish price action) for a push up to at least 87.80 resistance (Fibonacci retracement, horizontal overlap resistance). Stochastic (21,5,3) is seeing intermediate support above 10.14% where we expect a bounce from. Correlation analysis: We are seeing JPY weakness across the board with bounces expected on EURJPY, AUDJPY and USDJPY
Long
by MEX_Exchange
1
AUDJPY profit target reached once again, turn bearish Sell below 88.31. Stop loss at 88.58. Take profit at 87.71. Reason for the trading strategy (technically): Price has shot up and reached our profit target perfectly. We prepare to sell below 88.31 resistance (Fibonacci retracement, horizontal overlap resistance) for a push down to at least 87.71 support (Fibonacci extension, horizontal swing low support). Stochastic (21,5,3) is seeing intermediate resistance below 85% where we expect a drop from. Correlation analysis: We are seeing intermediate JPY strength with corrections expected on AUDJPY and EURJPY.
Short
by MEX_Exchange
AUDJPY profit target reached perfectly, prepare to buyBuy above 87.71. Stop loss at 87.44. Take profit at 88.34. Reason for the trading strategy (technically): Price has dropped perfectly from our selling area and has reached our profit target. We prepare to buy above major support at 87.71 (Fibonacci extension, horizontal swing low support, Fibonacci retracement) for a push up to at least 88.34 resistance (Fibonacci retracement, horizontal overlap resistance). Stochastic (34,5,3) is seeing major support above 2.3% where we expect a bounce from. Correlation analysis: We are seeing JPY weakness across the board with bounces expected on USDJPY, AUDJPY and EURJPY.
Long
by MEX_Exchange
AUDJPY approaching profit target, remain bearishSell below 88.34. Stop loss at 88.70. Take profit at 87.65. Reason for the trading strategy (technically): Price has continued to drop nicely towards our profit target. We remain bearish looking to sell below 88.34 resistance (Fibonacci retracement, horizontal overlap resistance, descending resistance) for a further push down to at least 87.65 support (Fibonacci extension, horizontal swing low support). Stochastic (34,5,3) is seeing intermediate resistance below 45% where we expect a further drop from. Correlation analysis: We are seeing JPY strength with AUDJPY and EURJPY expecting drops.
Short
by MEX_Exchange
AUDJPY dropping perfectly from our selling area, remain bearish Sell below 88.83. Stop loss at 89.35. Take profit at 87.65. Reason for the trading strategy (technically): Price has reached our selling area and dropped perfectly from there towards our profit target. We remain bearish looking to sell below 88.83 resistance (Fibonacci retracement, horizontal overlap resistance) for a push down to at least 87.65 support (Fibonacci extension, horizontal swing low support). Stochastic (34,5,3) is seeing major resistance below 95% and we also see a bearish exit signalling that a change in momentum has occurred. It still has some downside potential that goes in line with the drop we’re expecting on price. Correlation analysis: We are seeing JPY strength with AUDJPY and USDJPY expecting drops.
Short
by MEX_Exchange
AUDJPY remain bearish for a further dropSell below 88.83. Stop loss at 89.35. Take profit at 87.65. Reason for the trading strategy (technically): Price has broken a really nice ascending support-turned-resistance line triggering a bearish move. We prepare to sell below 88.83 resistance (Fibonacci retracement, horizontal overlap resistance) for a push down to at least 87.65 support (Fibonacci extension, horizontal swing low support). Stochastic (34,5,3) is seeing major resistance below 95% and we also see a bearish exit signalling that a change in momentum has occurred. Correlation analysis: We are seeing JPY strength with AUDJPY and USDJPY expecting drops.
Short
by MEX_Exchange
1
AUDJPY dropping nicely, remain bearish for a further dropSell below 88.92. Stop loss at 89.35. Take profit at 88.17. Reason for the trading strategy (technically): Price has dropped nicely from yesterday and we remain bearish below 88.92 resistance (Fibonacci extension, Fibonacci retracement, Elliott wave theory, bearish divergence) for a drop towards 88.17 support (Fibonacci retracement, horizontal overlap support). Stochastic (34,5,3) is seeing major resistance below 95% where we expect a reaction from soon. We can also see bearish divergence vs price signalling that a reversal is impending. Correlation analysis: We are seeing JPY strength with AUDJPY, EURJPY and USDJPY expecting drops.
Short
by MEX_Exchange
AUDJPY approaching major resistance, prepare to sellSell below 89.31. Stop loss at 89.66. Take profit at 88.15. Reason for the trading strategy (technically): We prepare to sell below major resistance at 89.31 (Multiple Fibonacci extensions, swing high resistance) for a push down to at least 88.15 support (Fibonacci retracement, horizontal overlap support). Stochastic (34,5,3) is seeing major resistance below 97% where we expect a reaction from soon. Correlation analysis : AUDJPY looks like it has a little bit of a further upside before a drop, and this is in line with what we’re expecting on USDJPY’s recent rally.
Short
by MEX_Exchange
AUDJPY right on resistance, remain bearish for a further dropSell below 88.15. Stop loss at 88.60. Take profit at 87.52. Reason for the trading strategy (technically): We remain bearish looking to sell below 88.15 resistance (Fibonacci retracement, horizontal overlap resistance) for a further drop towards 87.52 support (Fibonacci extension, Fibonacci retracement, horizontal swing low support). RSI (34) sees long term descending resistance holding price momentum down which helps us keep our bearish bias.
Short
by MEX_Exchange
AUDJPY profit target reached perfectly, remain bearish for a furSell below 88.15. Stop loss at 88.60. Take profit at 87.52. Reason for the trading strategy (technically): Price has dropped perfectly from our selling area and has reached our profit target. We remain bearish looking to sell below 88.15 resistance (Fibonacci retracement, horizontal overlap resistance) for a further drop towards 87.52 support (Fibonacci extension, Fibonacci retracement, horizontal swing low support). RSI (34) sees long term resistance holding price momentum down which helps us keep our bearish bias.
Short
by MEX_Exchange
AUDJPY dropping perfectly as expected, remain bullish Sell below 88.26. Stop loss at 88.68. Take profit at 87.27. Reason for the trading strategy (technically): Price has reached our selling area and reacted off it perfectly. We remain bearish looking to sell on strength below major resistance at 88.26 (Fibonacci extension, Elliott wave theory) for a continued drop to at least 87.27 support (Fibonacci retracement, horizontal pullback support). Stochastic (34,5,3) has started dropping from our 98% resistance nicely. Correlation analysis: AUD weakness is expected today with AUDUSD similarly testing major resistance and expecting a drop.
Short
by MEX_Exchange
AUDJPY approaching major resistance, prepare to sellSell below 88.26. Stop loss at 88.68. Take profit at 87.27. Reason for the trading strategy (technically): Price is approaching major resistance at 88.26 (Fibonacci extension, Elliott wave theory) and we expect to see a reaction off this level for a drop to at least 87.27 support (Fibonacci retracement, horizontal pullback support). Stochastic (34,5,3) has been testing out 98% resistance for quite some time and we expect a drop on it soon. Correlation analysis: AUD weakness is expected today with AUDUSD similarly testing major resistance and expecting a drop.
Short
by MEX_Exchange
AUDJPY approaching major resistance, prepare to sellSell below 85.06. Stop loss at 05.25. Take profit at 84.38. Reason for the trading strategy (technically): Price is approaching major resistance at 85.06 (Fibonacci extension, horizontal swing high resistance) and we expect a strong reaction from this level for a drop to at least 84.38 support (Fibonacci retracement, horizontal overlap support). Stochastic (34,5,3) is seeing strong resistance below 96% where we expect a further drop from.
Short
by MEX_Exchange