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AUDJPY Analysis/Trading Idea ShortLooking at the pair under 4hr tf, the market is in a downward trend and most especially making waves in the channel. Right in the channel, there appear an upward channel, there was clear reject at 50% fib level downside and also a clear rejection upside of the middle channel at 50% fib level leading to a bullish movement. We are expecting a retest at 61.8% fib level up for a clear confirmation of bearish movement down the main channel by next week.
Short
by forexjet_
AUDJPY Analysis/Trading Idea ShortLooking at the pair under 4hr tf, the market is in a downward trend and most especially making waves in the channel. Right in the channel, there appear an upward channel, there was clear reject at 50% fib level downside and also a clear rejection upside of the middle channel at 50% fib level leading to a bullish movement. We are expecting a retest at 61.8% fib level up for a clear confirmation of bearish movement down the main channel by next week.
Short
by forexjet_
AUD/JPY: Quick Reversal After Mid-Term High AccomplishedThe AUD/JPY has suffered a strong reversal lower in early trading this morning, and this follows a mid-term high yesterday which saw the 84.300 level challenged. As of this writing, the AUD/USD is trading slightly below the 83.000 juncture and fast conditions are prevailing. Yesterday’s higher values were not experienced since the middle of November. This morning’s low is testing support which has been demonstrated since the Christmas holiday ended. Speculators should be prepared for the potential of more volatility in the short term for two reasons. Trading volumes are becoming full again following the holiday season and this means financial institutions are now participating. The increase in Forex transactions is bound to cause some imbalances short term as the market responds to larger orders being processed. The AUD/JPY was able to demonstrate a solid bullish run higher since the 20th of December when the Forex pair was trading at approximately 80.300. Also, this morning’s trading comes after some nervousness has been expressed on global equity indices and this could also have weighed into the AUD/JPY as risk-averse trading took hold. Choppy price action in equities could create a bearish sentiment for the pair to be exhibited near term. If the AUD/JPY remains under the 83.000 level and begins to flirt with the 82.900 ratio, this could be an indication that further downside action could be seen in the short term. Technical sentiment may create targets near the 82.800 to 82.700 levels as potential targets. Because the AUD/JPY can move fast, traders looking for quick hitting results should make sure they use take profit and stop loss orders to participate safely within the Forex pair. Although the AUD/JPY has made solid strides upwards the past month of trading, speculators may eye the potential more selling to develop in the short term. If resistance levels prove durable near the 83.100 juncture today, traders may want to wager by selling the AUD/JPY on slight rises to ignite their selling positions. Speculators should anticipate volatility to occur, and if the 82.750 support level is proven vulnerable, the AUD/JPY could traverse lower. On the 24th of December, the AUD/JPY was trading near the 82.420 ratio. AUD/JPY Short-Term Outlook Current Resistance: 83.150 Current Support: 82.740 High Target: 84.180 Low Target: 82.100
Short
by SmoothJB
AUDJPY Long with 3 Confluences. List of Confluences: 1: Trendline Breakout 2: Key level Breakout around 81.73* 3: Inverse Head and Shoulder Pattern Summary: This setup has a risk reward (RR) of 3.75 to 1. We can see a trendline breakout on the daily time frame, which indicates a possible bullish move. A key level breakout is also visible on the daily time frame around 81.73*. This shows a change in market structure from bearish to bullish. Inverse head and shoulders pattern has formed in the daily time frame which further supports a possible bullish move.
Long
by NDOBObanks
AUDJPY short with 4x Confluences. Confluences listed: 1: Trendline breakout and close on the Daily timeframe 2: Change in market structure and new lower has been formed 3: Break and close below support around the 84.7** area 4: Bearish engulfing candle at support Summary: Entry will be taken during the NY session. The trade has a potential RR of 2.5: 1 or more, depending on how deep the pull back is. Target are set using fibs from the high to the low of the breakout candle.
Short
by NDOBObanks
AUDJPY | Small correction♻️Hello traders , Our goal in this analysis is to give you an overview of the future of symbolism. This analysis is prepared in daily timeframe but has been published for better view in 2 days timeframe. In this analysis, we examined the a wave in the weekly time frame. Based on this wave count, waves 1, 2 and 3 are complete and now we are inside wave 4. In wave 4, wave a is formed as 5 waves, so we expect wave 4 to be completed in a zigzag pattern. Wave a is complete and Wave b is forming, and Wave b must move to a maximum of 0.618 Fibonacci. The upward movement of the price that has started is related to one of the waves of wave b, but to be sure of wave b, we first expect the pink channel to break. After the completion of wave b in the specified Fibo, we expect the price to fall to the specified area to form wave c. If the price moves higher than Fibonacci 0.618, wave 4 ends at this point and wave 5 starts. 🙏If you have an idea that helps me provide a better analysis, I will be happy to write in the comments🙏 ❤️Please, support this idea with a like and comment!❤️
Long
by TajereBartarFX