Audjpysell
AUDJPY approaching support, potential for a bounce!
AUDJPY is expected to drop to 1st support at 75.016 where it could potentially react off and up to 1st resistance at 75.566.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
AUDJPY approaching support, potential for a bounce!
AUDJPY is expected to drop to 1st support at 75.201 where it could potentially react off and up to 1st resistance at 75.553.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
Elliott Wave View: AUDJPY Should Remain SupportedShort term Elliott Wave view on AUDJPY suggests that the rally from June 18 low is unfolding as a zigzag Elliott Wave structure. A zigzag is an ABC structure with 5-3-5 subdivision. The rally from June 18 low ended wave A at 76.28 as a 5 waves impulse. Up from June 18 low, wave ((i)) ended at 74.77, and wave ((ii)) ended at 74.32. Pair then rallied higher again and ended wave ((iii)) at 75.62, then wave ((iv)) pullback ended at 75.3. Wave ((v)) of A ended at 76.28 and this ended the cycle from June 18 low.
Pair is currently correcting cycle from June 18 low within wave B. The internal of wave B is unfolding as a double zigzag Elliot Wave structure. Down from 76.28, wave ((w)) ended at 75.4 as a zigzag. While wave ((x)) bounce fails below 76.28, pair has scope to extend lower within wave ((y)) as another zigzag structure before ending wave B. Afterwards, pair should resume higher again. We don’t like selling the pair and expect buyers to appear and dips to be supported in 3, 7, or 11 swing as far as pivot at 73.9 low stays intact.
HAPPY MONDAY - AUDJPY - LETS GOAUDJPY is approaching a pivotal break to the
upside. Should test 50% (77.194) Fibonacci retracement
WMA 100 Tested, about to test EMA 150.
There is also a good chance price could break down
to around the 74.600 area. Wait for break down for
confirmation.
1. Watch Bottom for BUY
2. Buy More on Break
3. Take Profit around 77.194
AUDJPY FAKEOUT AND BREAKOUTAUDJPY has been travelling inside of a descending channel. Price reached a major support zone , started making its way up and even broke out of the channel to the upside until it dropped back into the channel causing a fakeout, broke below the support zone. Now we are just waiting for this newly made resistance zone to be retested before price drops to the very bottom of the channel it has been travelling in.
ENJOY YOUR PROFITS, STOP LOSSES AND TAKE PROFITS ARE AVAILABLE...
AUDJPY MAJOR SUPPORT ZONNE HAS BEEN BROKENAUDJPY is travelling in a descending channel, Price hit the top and price plummeted down and even broke a major support zone marked out with a pinnk rectangle,
We are expecting price to come back up to retest this zone before dropping down to touch the bottom of the channel, our first minor target is the -0.27 extension level as we are expecting price to retest the zone at the 0.382 retracement level.
LEAVE YOUR THOUGHTS BELOW...