Audjpysignal
100D EMA+ Broken resistance= BUY if 78.25 holdsAfter months of consolidation, AUDJPY broke out of the range last week and currently it's pulling back.
I have indicated the resistance with an orange line. Right now price is retesting the line.
Also,we have the 100D EMA around 79.30 which can support the price.
If AUDJPY manages to bounce back up from this line, it would be good for traders to BUY between 79.30-79.50 with SL below
79.20. TPs can be set at 80 and 80.61 respectively for such trades.
For more signals, ideas, and analysis, check out my signature at the bottom of this page.
AUDJPY: Return of Risk On Trades?AUDJPY
Timeframe: 1D
Direction: Long
Confluences for Trade:
- Price action bouncing off Support of Parallel Channel
- Stochastic Oversold momentum (D1 and W1)
- Wide gap between EMAs
- Price action created a double bottom around Parallel Channel support line
- Fundamentally, there is positivity in sentiment moving into the coming 2019 which will see a dollar weakening scenario and AUD will gain from positive sentiment from global outlook being moderate instead of weakening tremendously.
Suggested Trade:
Entry @ Area of Interest 77.45 - 78.45
SL: 76.81
TP: 80.44
RR: Approx. 2.18 (Depending on Entry Level)
May the pips move in our favor! Good luck! :D
*This trade suggestion is provided on an advisory basis. Any trade decisions made based on this suggestion is a personal decision and we are not responsible for any losses derived from it.
AUDJPY - Short OpportunityPrice is in a strong downtrend in higher periods, found a resistance area along with a downtrend line, leaving us a strong bearish pin-bar. Price broke the consolidation at lower time-frames to the down side, came back to the retest, and is now, possibly, starting a new fall. I`m going short after the price loses the lowest price of the last 4h candle.