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Audjpyidea

AUDJPY, daily tf, Elliott Wave corrective 4th waveHello my friends, I hope everyone enjoy this week and make decent profit. This weekend, i spent some time to analyze pairs for next week to trade. My first trade for next week gonna be AUDJPY pairs. I tried analyzing this pair by adding some fibonacci tools such as fibonacci expansion and retracement. I found some interesting setup as this pair right now hitting strong support of EMA-200 at daily time frame. Insidentally the place where EMA-200 is located was also a horizontal support level and 161.8 fibonacci expansion level. We could conclude that 73.90-74.10 area is an area of confluences. For AUDJPY to drop further, they will need a lot of strenght. In my opinion, bears currently exhausted as AUDJPY has dropped for 10 straight candles / 2 weeks. It is bound to retrace a bit before continue to the downside. Using Elliott Waves theory as the basis, we could say that we're going to see corrective wave which is Wave-4. Wave-3 stopped exactly at 161.8 fibonacci expansion. Wave-4 usually only a quick corrective wave so we will only buy this pair for a short time. It usually end at 23.6-50% fibonacci retracement. Usually it only stopped at 23.6-38.2% retracement so we will only aim between this fibonacci ratio. I am planning to buy AUDJPY at 74.10 when market open next week. Stop loss will be located a few pips below the support. There are going to be 2setups and you can choose which to follow. Buy AUDJPY 74.10 Stop loss 73.80 Take profit for 1st setup is at 74.85 (RR ratio is 1 : 2.5) Take profit for 2nd setup is at 75.40 (RR ratio is 1 : 4.33) If you wanna take profit using the 2nd setup it is wiser to use trailing stop when price pass the 75.00 level. Use only 1-2% risk Good Luck
Long
by HayatoDragonFX
4
AUDJPY felled below 50% Fibonacci levelAUDJPY Price has reached around 78.500 which is a August month high and the upward momentum is shifted towards downwards as the risk aversion creeps in the market. The vaccine hopes supported the risk proxy for the past two months. The vaccine trial was put on hold by Astrazenca pharma company due to the some side effects caused by the unapproved vaccine and in many other countries are conducting the trials on side by side The number of coronavirus cases are surging everyday around the world. Even in Europe and in England the COVID-19 cases are rising the the government is preparing for the fresh lockdown measures. And the political developments around the world will cause the demand for safe heaven assets The healthy relationship between the government of Australia and People republic of china as both sides are preparing for fresh sanctions against each other on particular imports such as wine and beef. Though the industrial activity in china is back to the pre pandemic level this will support the Australian dollar too. But the deteriorating relationship between two countries will make the AUD less attractive The Japanese PM has resigned on the health grounds and the Newly elected PM Suga said that they will follow the abonomics in coming days. Which in turn will support the buying of Japanese yen The AUDJPY is the perfect pair to measure the current risk sentiment of the market. The price has felled around 4.1% from August high. If the price reached the 78.6% then it might lose around 6% from the August high level Currently AUDJPY is trading below the 50% Fibonacci retracement level. And below the 76.000 level The lower trend line which is holding this pair since 12 June was broken. Ichimoku clouds is pointing towards south On Elliot wave principal Currently 3rd wave is forming the we are expecting that this wave will end at 73.800 level which is a 78.6% Fibonacci level The price has felled below the 50,100,200 EMA. RIS has reached 20 level which indicates the minor rebound towards 50% Fibonacci level. MACD is turned red Please give us a thumbs up if u like our work and do follow us so that you can get a regular update about upcoming setups and ideas
Short
by forexorbit
AUDJPY, 4hr tf, sell once again on ichimoku confirmationHello my friends, Previously i took sell position on this pair and got my SL hit for -60 pips at September 8th. I provide link to my previous post about it as well. Well i don't mind with the loss as it is normal for a loss, we just learn and move on from it. I am gonna try selling it again because my screener show this pair again on sell position. Sell AUDJPY 77.10 Stop loss 77.70 Take profit 1 @76.50 Take profit 2 @75.90 RR Ratio 1 : 2 Use only 1-2% risk Good luck
Short
by HayatoDragonFX
AUDJPY, 4hr tf, sell on ichimoku confirmationHello my friends, Today i got trade ideas for AUDJPY pairs. This pair just came to my forex screener as there are some confirmations that have to be fulfilled for sell postion. All the confirmations needed are: 1. Price making lower low and lower high 2. Price break below the kumo and holding below it 3. Kumo cloud are red colored 4. Parabolic SAR switched to above the price indicating selling pressure I am not selling this pair right now as it is not offering a good RR ratio right now Wait for price to retrace a bit before entering sell Sell AUDJPY 77.10 Stop loss 77.70 Take profit 1 @76.45 Take profit 2 @75.60 Use only 1-2% risk Good luck
Short
by HayatoDragonFX
2
AUDJPY - sell biasedHi all traders, by now, u would have made alot of pips just following this pair of AUDJPY. Congratulations on it. Now for the next setup for AUDJPY. Im looking for the close below the trend line. IF the trend line is broken. I am gonna look for further weakness in this pair till we reach the next support. Plan your trade nicely and you should be able to scoop tons of pips from this idea. Follow me on tradingview. Like and share with all your friends of this idea. **Disclaimer: All trade ideas are of my own personal view. It's not a financial advice. Thanks!** Cheers everyone!
Short
by FxTradingWarrior
1
AUD/JPY could MOVE DOWN!Hey tradomaniacs, after previous fakeout to the topside AUD/JPY could continue its correction to the downside. These fakotus after often a move by institutional traders to liquiddate the retailers in order to have enoug liquidity for their oen positions. JPY is overall strong due to the previous news aswell as DXY which is still moving upwards. Market is pretty choppy and indecisive so be carefully trading! LEAVE A LIKE AND A COMMENT - I appreciate every support! =) Peace and good trades Irasor Wanna see more? Don`t forget to follow me. Any questions? PM me. :-)
Short
by Trading2ez
AUDJPY long trade ideacurrently, we are seeing price formed unconfirmed inverted H&S and potentially to go up to the 78.430 resistance level (2), personally I will wait for the price to breakout the 77.54 resistance level (1) first before entering a long position on this asset. **Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions. Traders!! if you like my ideas and do take the same trade as I do, please write it in a comment so we can manage the trade together. _____________________________________________________________________________________________________________________ Thank you for your support ;) GWBFX
Long
by GWBFX
5