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Audjpytrade

AUDJPY (MONTHLY) | LONG TERM SPECULATION*Price action is presently hovering around the 70.000/72.000 zone which is a major support. *Also, put into consideration that price has been consolidating between this support @ 70.000 and resistance @ 90.000 zone since 1996. *However, if the price breaks the 70.000 zone; we might be looking at a downward rally to test support @ 55.000 (which also happened in 2001 and 2009) and if price rejects this 70.000 zone, we might be looking at a consolidation into the 90.000 zone. *We are at a crossroad and important that we keep watching the character of the price at the present zone (70.000/72.000) before making any execution. *Lower time frame speculation shall be published as we continue to monitor price action in the present zone.
by darcsherry
AUDJPY: Potential Short Setup From 76.000Whats up everyone and welcome to this new trading idea! Ive been quite for some time because of some personal issues, but this is another story! So i just want to feed you guys with another trading setup on the AUDJPY pair. Price is creating a peak formation high and consolidation for a while, which indicates that something is going on here... Im looking for shorts around the 76.000 level which will be hit in the near future. We have AUD news in a few hours so lets see if we can get price up there and then down. Risk to Reward on this trade is great! Catch you guys on the next idea and hope everyone has a successful trading week!
Short
by darian_fx
9
AUDJPY: Double Top or Not?Seeing these two highs at the same level on the AUDJPY tends to attract speculation about whether or not this is a double top pattern. But no matter how you look at it, the fact is we don’t have enough information to make that call one way or the other. What we can do is stay patient and use price action to signal what’s likely to happen next. If this does unfold as a double top, the 85.80 handle is the level to watch. It’s going to take a daily close (5 pm EST) below it to confirm the reversal pattern. However, we may not have to wait that long to find out. A daily close below the 87.80 support area would be an early sign that sellers have regained control. It would also expose neckline support at 85.80. On the other hand, a daily close above 89.35 would suggest that the next leg higher is underway. It would expose the November 2015 high at 90.70, which is an area that had previously served as support in late March and early April of the same year. Although we don’t know the outcome just yet, one thing did catch my attention during yesterday’s session. The measured objective for the possible double top formation lines up perfectly with the current 2017 low at 81.50. Whether that’s of any significance is, of course, yet to be determined.
by Daily-Price-Action