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AUDJPY trade ideas

AUD/JPY Set for Dramatic Reversal.The AUD/JPY pair has reached a critical juncture, touching the upper boundary of a well-defined ascending channel. This marks a pivotal moment for traders, as the pair's price action suggests a potential reversal, supported by multiple technical indicators. 50-day EMA: Bullish, indicating medium-term upward momentum. 200-day EMA: Bullish, confirming a long-term upward trend. Hull Moving Average (9): Shows a sell signal, suggesting short-term bearish pressure. Relative Strength Index (RSI 14): At 67.049, approaching overbought territory but not yet overextended. This suggests a potential for further upward movement but warrants caution. Stochastic Oscillator: At 84.005, indicating overbought conditions, which could precede a price correction. MACD Level (12, 26): Shows a buy signal with the MACD line above the signal line, but a bearish cross may form soon, hinting at potential downward pressure. Volume and Price Action: Increased trading volume has accompanied the recent price surge, typically a bullish sign. However, the volume spikes near resistance levels could indicate distribution before a potential sell-off. The price has formed a series of higher highs and higher lows within the ascending channel, reinforcing the bullish trend. The price is above the Ichimoku cloud, which is a strong bullish signal. However, it’s approaching the cloud’s edge, indicating a possible reversal if it re-enters the cloud. Bearish Signals: The channel top coincides with a bearish divergence on the RSI and MACD, suggesting weakening bullish momentum. The MACD is on the verge of a bearish crossover, which, if confirmed, could accelerate a downward move. Strong support levels at the 50-day and 200-day EMAs provide a safety net for bulls. The overall long-term trend remains upward, as confirmed by the 200-day EMA and the ascending channel. Short Position: Given the confluence of bearish signals at the channel top, a short position could be initiated: Entry Point: 104.00 Initial Target: 102.65 (Channel midline) Extended Target: 101.00 (Channel bottom and major support level) Stop Loss: 104.70 (Above recent highs and outside the upper channel boundary) Long Position: If the price action shows resilience and breaks above the channel decisively, consider a long position: Entry Point: Above 104.50 (Confirmation of breakout) Initial Target: 105.40 (Next resistance level) Extended Target: 106.50 (Fibonacci extension and psychological level) Stop Loss: 103.70 (Below recent support and inside the channel) Short Now: If the price fails to break above 104.20 in the next trading sessions, confirming the resistance at the channel top. Long Later: If the price sustains above 104.50 with strong volume and bullish confirmation from oscillators turning up from oversold conditions. AUD/JPY is at a critical point where a short-term correction is likely before any significant bullish continuation. Traders should watch for confirmation of the bearish signals before shorting and be prepared to switch to a long position if a breakout occurs. Risk management with appropriate stop losses is essential given the current volatility and mixed signals.
Short
by AxiomEx
AUDJPY Channel Up topped. Sell signal.The AUDJPY pair reached the top of its long-term Channel Up, while at the same time the 1D MACD is about to complete a Bearish Cross today. This is a strong sell signal combination and the minimum decline that the pair has within this Channel Up on a pull-back, has been -1.84%. As a result our short-term Target is 102.650. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
Heading into 50% Fibonacci resistance?AUD/JPY is rising towards the pivot which has been identified as an overlap resistance and could reverse to the 1st support. Pivot: 103.95 1st Support: 103.49 1st Resistance: 104.47 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Short
by ICmarkets
AUDJPY I Potential reversal from resistance Welcome back! Let me know your thoughts in the comments! ** AUDJPY Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!
Short
by BKTradingAcademy
AUD/JPY Day Trading Analysis With Volume Profile 📊AUD/JPY , it's nice to see a strong buying reaction at the price of 104. There's a significant accumulation of contracts in this area, indicating strong buyer interest. I believe that buyers who entered at this level will defend their long positions. If the price returns to this area, strong buyers will likely push the market up again. The S/R zone from the past and high volume cluster are the main reasons for my decision to go long on this trade. Happy trading Dale
by Trader_Dale
Lingrid | AUDJPY pullback to SUPPORT and trend CONTINUATIONThe price perfectly fulfills my last idea. It hit the target zone. The market has surged, closing above the previous lower high, and is now testing the key resistance level at 104.00. The recent pullback has took liquidity beneath the crucial support level of 103.00, ultimately leading to a new upward extension. On the daily timeframe, the bullish trend is evident, and any pullback would be an excellent opportunity to enter a long position. I expect a retracement to support the level, followed by a bullish extension towards the channel's upper border. My goal is the resistance at 104.490 Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
Long
by Lingrid
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