AUDJPY; The run is over! - Start trading it from the SHORT sideLooking for SHORT Entries here, @79.00-79.30
... and the Weekly
This is likely to be rather good Trading vehicle here the an outright, massive short!
Audjpysell
AUD/JPYWe think AUD JPY has reached its maximum and needs to react now. We have clear positions for both long and short, all we need is to wait for the market to do its thing.
AUDJPY: Approaching a key level of resistance on the Daily ChartGREETINGS
So the AUDJPY has been rallying from about 30 October 2020 from a low of about 73.250to the current 77.930 where we currently are. What is interesting about this pair is the level that we are now reaching. As depicted on the chart above a couple of things are now taking place, and i will clearly write them down in point form as become the style of my writing.
1. We have an ascending wedge (depicted in orange, for the benefit of newbies out there), that started from 30 October. Over the past couple of days the price continues to rise at a decreasing rate as compared to previous days, signifying a slow down in bullish momentum.
2. The ascending wedge pattern is also confirms the ever shrinking distance from point "A" to "B" to "C" to "D" signifying a potential downside break at point "D" which is also our Area of Key resistance.
3. The approaching area of key resistance which was formed around 1 Sept 2020 at price level 78.200ish is the level to watch out for. If price reaches this area we expect to retrace downwards. if we break beyond this point then we can expect take the hit and place a buy order instead.
4. Volumes show that bulls were pushing the market from around 27 November and peaked around 4 November, after that they are now decreasing at an increasing rate spelling the introduction of the bears.
5. The upcoming economic data out of Japan on the 10 December 2020 will definitely bring about some volatility and that could be the catalyst to our break to the downside.
TECHNICAL INDICATORS
The RSI and Stochastic are currently "neutral", but are fast approaching the "overbought region"
All Moving averages are screaming "buy", but this will be short-lived in a few days.
Fibonacci pivots are all in the late 70's
CONCLUSION
This pair is poised for a nice reversal around the 78.200ish area. a sell limit order should be placed, with a profit target of 76.450 and possibly even further down to 74.350
Secondly there is the correlation aspect to this pair. The AUDSGD, AUDUSD and the NZDJPY are all very positively correlated so the moment the above analysis is confirmed a Sell Stop order can be placed anywhere on those above pairs and ride the elevator of profits going down as well (given these pairs do not react to other news events). On the converse side the USDPLN is negatively correlated thus bringing in hedging potential to this trade
Takunda Mudenge is a market analyst based in Zimbabwe, Africa. The above should not be construed, assumed or viewed as investment advise, but rather for educational and entertainment purposes only. For investment advise please approach a qualified professional.
AUDJPYLooking for a nice short play, Market broke our trendline as well as rejected from my median line
audjpy sellhi traders,
looking at the 4H timeframe, we can see price is at a nice resistance level
also created a double top which is another confluence for a impending drop
AUDJPY downtrend Support and Resistance levels
It continues as it recently rebounded of the support of June 2016 and january 2019 and also the resistance of january 2020.
TRENDLINE
It also did touch the trendline of november 2014, november 2017 and did touch it again after the same 3 years difference in november 2020.
Head and shoulder pattern
we can see it at the resistance of november/december 2019 and november 2020 according to the monthly timeframe.
GOLD BOXES ARE TP AREAS FOR DAILY SWING TRADERS
These are all proof that the chance of following the downtrend big is.
.... Im not a pro trader btw.
AudJpy- 77 is strong sell zoneLike all "risk", AudJpy flew yesterday and ended the day just under significant resistance from 77.
I expect this resistance to hold and the pair could fall to 75 in the next period.
Sell rallies is my strategy for this pair and only a daily close above 77 would change my bearish perspective
aud/jpy sellhi traders,
price broke downtrend and rallied up to resistance, i now expect price to pull back
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- RSI is give us signal for SELL.
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- We are waiting candle to test this zone and go down.
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Keep in mind that the analysis provided is not 100% accurate and that you can never be certain with the markets. This information given is not financial advice, always do your own research.
AUDJPY - SELL FOR A SWING TRADE Audjpy - daily chart - expecting a deep swing lower on this pair as aussie dollar weakness.
AUDJPY - SHORTSelling a clip of AUDJPY here at 73.86 ahead of the 73.94 pivot and breakdown area that held on Friday. As long as 74.45 fibbo resistance holds, I remain a seller of the rallies going into the RBA meeting. RSI indicates that the market is overbought and the momentum should start to turn towards the downside.
I will sell a 2nd clip around 74.10 if we get there.
Short at 73.86
SL around 74.45
TP around 73.13 fibbo support.
AudJpy- Imminent break downAudJpy is in a clear downtrend and, as said yesterday, rallies towards 75 should be well caped by bears.
The pair is trading for the 3rd time in 74 zone support and I expect a breakdown sooner rather than later.
My target for short is 72.50 and I will remain bearish as long as the pair stays under 75
AudJpy- drop ahead?AudJpy is trading in a very tight range for a few days now.
The trend is down and I believe the break will be to the downside and will assist a continuation under 74.
I'm bearish this pair as long as the price is under 75
AUDJPY Shor swing OppurtinityI believe this pair will go down with an opportunity for swing short ad discussed in above chart.
Do your DD, apply your edge, and act accordingly.
Best Luck
AudJpy could accelerate its lossesFor a few days now AudJpy is consolidating just above 74 zone support.
The combination of weak AudUsd and strong Jpy is not good for the pair and we can see a breakdown sooner rather than later.
I expect gains to be well caped on 75 zone and the pair could drop to at least 72 and even 70 in the medium term
Look to sell rallies under 75
