Audjpynews
AUDJPY SHORT Hi guys, what a week ! Lots of movement in the market this week which is good to see, my bias for this pair is short (sell). I am looking for a spinning top or doji candle formation on the Daily time frame as another confluence to take this short and to allow the temporary bullish momentum to slow down. If this does form I will be scaling down to the 4hr and 1 hr time frame to look for a better wick entry. This is a long term trade so don't put a huge lot size on lets swing trade this down to the -61.8% fib level.
400 PIP GAIN 8/1 RR
AUDJPY Market Outlook | Daily Forex Market BreakdownAUDJPY
Continuing to push to the downside. Sitting at about +280 pips profit. This shows you how powerful swing trading is. This is why it is important to let your winning trades run. We need to be patient and not rush into any longs, we could keep melting to the downside. We have a clean short entry. Keeping an eye out for potential hedge trades soon but right now its too early.
AUDJPY reversed from resistance, potential drop!
AUDJPY reversed off its resistance at 75.815 where it could potentially drop further to 74.960.
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AUDJPY bounced from support, potential for a further rise!
AUDJPY bounced off 75.513 where it could potentially rise further to 76.247.
*Disclaimer.*
Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
AUDJPY Market Outlook | Daily Forex Market BreakdownAUDJPY
AJ is looking great. Pushed down a bit as I felt we would. I am now waiting for the bears to take control. I believe we are going to see a big push to the downside soon. As always I will let the tribe know if I see anything. NJ is also looking good but since AJ looks much better and they correlate I feel its best to focus just on AJ for the time being.
AUDJPY Market Outlook | Daily Forex Market BreakdownAUDJPY
AJ is looking like a decent short opportunity. We have been going sideways. Half tempted to get in now but I am going to watch very VERY closely for now. I like AJ especially because I prefer swing trades and it looks like a good opportunity for us.