Get started

JAPANESE YEN / AUSTRALIAN DOLLAR

No trades
See on Supercharts
Overview
Ideas
Discussions Technicals Seasonals Economic Calendar

JPYAUD trade ideas

Yemi_Fx1 | BEARISH SETUP ON AUDJPY Maintaining a sell bias on AUDJPY based on the presence of a well-defined sell structure. On the 1-hour timeframe (1HTF) shows the bearish bias is further supported by a potential continuation pattern in the form of an ascending wedge, with price currently testing resistance. Be aware that today's high-impact Non-Farm Payroll (NFP) data release could cause price to break out of the ascending wedge resistance before moving in it main direction. I anticipate a potential third touch of the ascending wedge's resistance. If price rejects this level, we can look for a confirmation shorting signal(A flag )on a lower timeframe (e.g., 15-minute chart) to enter the trade. If you found this helpful please support your fellow trader with a like .
Short
by Yemi_Fx1
AUD/JPY Outlook Hinges on Response to 50-Day SMAAUD/JPY appears to be stuck in a narrow range, but the exchange rate may track the positive slope in the 50-Day SMA (97.37) as it holds above the moving average. AUD/JPY Rate Outlook AUD/JPY may attempt to retrace the decline from the February high (99.06) if it breaks out of the opening range for March, with a break/close above the 98.77 (2022 high) to 99.00 (61.8% Fibonacci extension) region opening up 100.90 (78.6% Fibonacci extension). However, failure to track the positive slope in the moving average may push AUD/JPY towards the 96.10 (78.6% Fibonacci retracement) to 96.20 (38.2% Fibonacci extension) area, with the next region of interest coming in around the February low (95.50). --- Written by David Song, Strategist
by FOREXcom