Trend reversal in AUDJPY?AUDJPY could be creating a tripe top formation after price failed to break the 76.90 resistance level. AUDJPY has also dropped below the supportive trend line that I have drawn in my chart.
If price stays below this supportive trend line then it will likely that AUDJPY will continue to drop.
Audjpydaily
AUDJPY / SELL IDEAOn the chart we see price has broken the trendline and hit its key support level where it was rejected - It is a key level as we can see multiple rejections on the chart if you look further back
It then retraced to the trendline and was rejected again
Once price has broken support we can look for sell entries to the target shown on the chart
AUDJPY potential sell set-up. AUDJPY has rallied strongly and reached the previous high yesterday. However, it is possible that there could be a reversal in this area.
So, watch for bearish price action and sell with 75.50 as TP1 and 74 as TP2. SL can be put at 77.20
The above set-up will be invalid if price closes above the resistance level.
AUDJPY, SHORT AT THE DAILY?!**ENG**
Price reaching a major resistance zone at the daily timeframe, we are expecting a rejection of this level followed by a drop to our 38.6% FIB level.
**PT**
Preço quase a atingir a nossa zona de resistência no timeframe diário, estamos à espera de uma rejeição deste nível seguida de uma queda até à zona dos 38,6% do FIB.
AUDJPY Sell Set-up| TP,SL and 435 Pips TargetAUDJPY is in a trend reversal plus consolidation phase for almost a month now. However, I expect the price to make a quick bearish move very soon. Currently, the price action shows bears are gaining strength to accelerate the downtrend.
Possible Sell Signal:
Entry : 74.15-74.60
SL :75.10
TP :70.00
AUDJPY - SELLPrice has now reached a key level of support, once broken it will be a sell to the green area
We can see in this chart price has tested this area several times last week before bouncing off, i believe we can get a few more short buys in before it starts to fall
ALWAYS wait for confirmation before jumping in!
AUDJPY - SELL
SL - 74.427
TP - 71.418