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Audjpydaily

AUDJPY profit target reached perfectly, prepare to buy again forBuy above 82.94. Stop loss at 82.54. Take profit at 83.66. Reason for the trading strategy (technically): Price has shot up and reached our profit target perfectly from yesterday. We remain bullish looking to buy above 82.94 major support (Fibonacci retracement, Fibonacci extension, horizontal swing low support, ascending support line) for a push up to at least 83.66 resistance (Fibonacci extension, horizontal swing high resistance). Stochastic (21,5,3) is also seeing strong ascending support holding price up really well.
Long
by MEX_Exchange
AUDJPY approaching major resistance, prepare to sellSell below 83.48. Stop loss at 83.93. Take profit at 82.80. Reason for the trading strategy (technically): We prepare to sell on major resistance at 83.48 (Fibonacci retracement, Fibonacci extension) and expect a strong reaction from that level to drive price down to at least 82.80 support (Fibonacci retracement, horizontal overlap support). Stochastic (34,5,3) is seeing major resistance below the 91% level where we expect a further drop from. Correlation analysis: Overall JPY strength is expected today with drops on AUDJPY and USDJPY. Furthermore, we expect AUD weakness with a drop on AUDUSD expected too.
Short
by MEX_Exchange
AUDJPY approaching profit target perfectly, prepare to sellSell below 82.94. Stop loss at 83.22. Take profit at 81.92. Reason for the trading strategy (technically): Price has bounced off our buy entry perfectly yesterday and has risen strongly towards our profit target. We prepare to sell below major resistance at 82.94 (Fibonacci retracement, horizontal resistance) for a push down to 81.92 support (Fibonacci extension, horizontal swing low support). Stochastic (34,5,3) is seeing strong resistance below the 93% where we expect a drop from soon.
Short
by MEX_Exchange
AUDJPY right on support, remain bullishBuy above 81.90. Stop loss at 81.67. Take profit at 82.90. Reason for the trading strategy (technically): Price has once again dropped to our support level. We remain bullish above major support at 81.90 (Fibonacci extension, horizontal swing low support, bullish divergence) and we expect a strong bounce above this level to at least 82.90 resistance (Fibonacci retracement, horizontal swing high resistance). Stochastic (34,5,3) is seeing strong support above the 8% level and also sees bullish divergence vs price signalling that a bounce is impending. Correlation analysis: We’re expecting overall JPY weakness with bounces expected on AUDJPY, USDJPY and EURJPY. Hence this falls very nicely into a correlated move.
Long
by MEX_Exchange
AUDJPY bouncing perfectly, remain bullishBuy above 81.90. Stop loss at 81.67. Take profit at 82.90. Reason for the trading strategy (technically): Price has dropped perfectly to our buying area and bounced off perfectly. We remain bullish above major support at 81.90 (Fibonacci extension, horizontal swing low support, bullish divergence) and we expect a strong bounce above this level to at least 82.90 resistance (Fibonacci retracement, horizontal swing high resistance). Stochastic (34,5,3) is seeing strong support above the 8% level and also sees bullish divergence vs price signalling that a bounce is impending. Correlation analysis: We’re expecting overall JPY strength today across USDJPY and EURJPY, hence it is best to exercise caution on this trade.
Long
by MEX_Exchange
AUDJPY approaching major support, prepare to buyBuy above 81.90. Stop loss at 81.67. Take profit at 82.53. Reason for the trading strategy (technically): Price is approaching major support at 81.90 (Fibonacci extension, horizontal swing low support, bullish divergence) and we expect a strong bounce above this level to at least 82.53 resistance (Fibonacci retracement, horizontal overlap resistance). Stochastic (34,5,3) is seeing strong support above the 8% level and also sees bullish divergence vs price signalling that a bounce is impending. Correlation analysis: We’re expecting general JPY weakness with USDJPY similarly expecting a bounce from key level.
Long
by MEX_Exchange
AUDJPY approaching profit target, remain bearishSell below 83.83. Stop loss at 84.23. Take profit at 83.21. Reason for the trading strategy (technically): Price has continued to drop towards our profit target really nicely. We remain bearish below 83.83 resistance (Fibonacci retracement, pullback resistance, horizontal overlap resistance) for a further drop towards 83.21 support (Fibonacci retracement, horizontal swing low support). Stochastic (89,5,3) is seeing good downside potential towards 4%.
Short
by theforexarmy
1
AUDJPY dropping nicely from our selling area, remain bearishSell below 84.23. Stop loss at 84.64. Take profit at 83.27. Reason for the trading strategy (technically): Price has reached our selling area and is dropping nicely. We now remain bearish below major resistance at 84.23 (Fibonacci retracement, Fibonacci extension, horizontal pullback resistance) and we expect price to react off this level and drop towards 83.27 support (Fibonacci retracement, horizontal pullback support). Stochastic (34,5,3) is seeing major resistance below the 92% level where we expect a drop from. Correlation analysis: We’re expecting overall JPY strength today with AUDJPY and EURJPY both expecting drops.
Short
by theforexarmy
AUDJPY profit target reached perfectly, time to sellSell below 83.92. Stop loss at 84.51. Take profit at 82.43. Reason for the trading strategy (technically): Price has gapped up and reached our profit target perfectly this morning. We prepare to sell below 83.92 resistance (Fibonacci retracement, horizontal resistance, bearish divergence) for price to drop down towards 82.43 (Fibonacci retracement, horizontal pullback support, price gap) to fill up the gap that has been created. Stochastic (55,5,3) is seeing strong resistance below 91% and also sees bearish divergence vs price signalling that a bearish reversal is impending. To read about the daily technical analysis strategies in more detail, you can check them out here : www.theforexarmy.com They're very useful for forex scalping, day trading and swing trading opportunities.
Short
by theforexarmy
AUD/JPY dropped perfectly towards profit target, remain bearishSell below 85.75. Stop loss at 86.51. Take profit at 83.87. Reason for the trading strategy (technically): AUDJPY dropped absolutely perfectly once it reached our selling area and is close to our profit target. We remain bearish below 85.75 resistance (Fibonacci retracement, horizontal pullback resistance, Fibonacci extension) to play the continued drop to at least 83.87 support (Fibonacci extension, horizontal support). Stochastic (55,5,3) has turned down from our 96% resistance level perfectly and has good downside potential
Short
by theforexarmy
AUDJPY False Break of 85.35 Triggers Selling OpportunityWe looked at the AUDJPY on Thursday of last week. At the time the pair was trading just below the 85.35 handle, a level that’s served as a pivot since the new year began. The idea was to watch for a sell signal from new resistance. However, Thursday closed at 85.51, which canceled out any notion of shorting the cross. I wasn’t interested in buying the pair on the break given the velocity of the 300 pip decline the week before. By the close of Friday’s session, the AUDJPY had fallen back below 85.35. The drop was so severe that sellers nearly carved out a bearish engulfing candle. But Thursday’s apparent false break of 85.35 serves as a bearish signal just the same. From here any retest of the 85.35 area is likely to encounter an influx of selling pressure. The next key support comes in at recent lows at 83.80. A daily close below that would expose the 82.50 handle. Keep in mind that the AUDJPY will also be at the mercy of Tuesday’s RBA decision.
Short
by Daily-Price-Action
AUDJPY Takes on 85.35 as New ResistanceWe discussed the AUDJPY exactly one week ago. At the time the pair had just broken support at 85.35 and looked determined to test the next key support at 83.73. With this in mind, we were watching for a selling opportunity on a rotation back to new resistance. Unfortunately, that retest never came. But the pair did reach a low of 83.81 this past Tuesday, just 8 pips above the December 2016 low of 83.73. Although we didn’t get an immediate retest, the past few sessions have produced something even more appealing. Since bottoming earlier in the week, the AUDJPY has carved out a rounded retest – something that is often more effective than an immediate retest of a broken level. Now, because Tuesday’s low triggered a bullish engulfing candle, I’m inclined to wait for a sell signal from 85.35. More specifically, I need to see a long upper wick on the daily time frame. This would indicate that sellers are willing to make a stand at 85.35, which is now resistance. Otherwise, a daily close back above the level would negate the somewhat bearish outlook. And I certainly don’t want to step in front of this market if buyers intend to reclaim the 85.35 handle. Should we get a favorable sell signal from the 85.35 region, the next key support comes in at 83.80. A daily close below that would expose the mid-November highs from last year at 82.50. For now, the jury is still out on whether the AUDJPY is likely to turn lower after Tuesday’s bounce or continue higher.
Short
by Daily-Price-Action
AUDJPY Breaks Key Support, Targets 83.73The AUDJPY appears to have broken a key support level. The 85.35 handle has been a critical factor for the pair since the start of 2017 and yesterday’s close at 85.32 should continue to attract selling pressure. But as you may well know, what we sometimes think are precise levels are instead areas of support or resistance. So yesterday’s close being just 3 pips below 85.35 leaves me too skeptical to do anything at the moment. Also, the yen cross is now 140 pips below the mean as measured by the 10 and 20 EMAs. With this in mind, I’d rather wait for a more convincing close below 85.35 followed by a retest of the area as new resistance. The next key support level comes in at the December 29th low of 83.73. This area also attracted a bid in late November and early December of last year. A close below 83.73 would expose the mid-November highs at 82.50. Right now the technical landscape for the AUDJPY is favorable, to say the least. The pair has been respecting the key levels mentioned above, and the recent breakdown presents a potential selling opportunity. But perhaps even more favorable than the levels is the fact that other risk-sensitive pairs are showing signs of weakness. Some of the best trades can occur when the yen pairs begin to move in tandem. Look no further than the rally that ensued from the November 9th U.S. elections.
Short
by Daily-Price-Action