AUD/JPY Wait For Correction Then LongHad an excellent trade on this in my previous post, closed at TP 1. Now want to see this retrace to at least 0.382 Fibonacci to re-enter a long position with the target being TP 2 at 83.928.
Audjpyforecast
AUD/JPY Full Analysis !! Don't Miss itGood day Traders !! On this multi-timeframe analysis we will make a full breakdown of this pair.
Monthly : We have a impulse correction and continuation pattern and we do expect the correction to the downside before the continuation to the upside or the price will continue it's impulse until the next long target .
Weekly : We also have an overextended "W" formation as well and the neckline is exactly in confluence with the 0.382 Fib level taken on the previous impulse leg.
Daily : We have a W formation pattern that is completed and we are still pushing to the upside. We do have the resistance of the trendline and also a historical level of resistance at this level .
COT : Institution have been decreasing net positions in JPY since they closed more than 8500 long positions and added to 1100 Short position during the last report.
From an AUD perspective we are still looking at a strong AUD because hedge funds added more longs positions and closed a lot of shorts and this explains the fact that there will be a lot of buying opportunities on this market.
8H: We are currently testing the resistance and trying to break through to continue the move to the upside so we will be monitoring price to execute our entry depending on the environment of the market.
Now if you enjoyed this analysis smash that like button and share. If you have a different opinion please leave a comment below as I would love to get more insights and ideas. I also linked my previous idea about this asset. You can also leave a comment and let me know which pair you'd like me to analyze in my next idea.
Trade safe !!!
AUDJPY BUYAs clear as possible chart, weekly resistance broken, as we were waiting for pull back ready to put pending order, jump in strong trend.
there is a possibility we exit earlier than take profit, which for me TP is open.
1/3 R:R
Lets see how fast it goes ..
GOODLUCK !!!
AUD/JPY Has Broken ResistanceThis has broken above the previous high and is now retracing back to test it as a support. A long can be entered here if we see the rejection. MACD and EMA's are bullish, especially on the daily timeframe. I have set 2 take profit targets, I originally was only looking to reach TP 2 but that could be too ambitious and who knows what can change in the time it would take to get there. TP 1 is a good target as well and still makes for a good risk/reward ratio.
Good opportunity to Sell AUD/JPYTwo important pattern, EMA and also RSI show that price must go down in future hours.
AUDJPY LONG PRICE ACTION FORECAST
After a full month into consolidation, trading in a descending channel, the AUDJY pair managed last Friday to finally broke the resistance level. Price after reaching the resistance level, a pullback is expected towards the "--" or either a better entry at the "...' line - Both are Fib levels. Levels entries could potentially set an R:R - 1:4
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AudJpy- A sell trade with great risk:rewardAfter a first leg down of 150 pips, AudJpy has recovered and now is trading again above 80 important figure.
The rise from 79.50 is in a rising wedge though, indicating a lack of impulse.
A break under the support line of this wedge could be a confirmation of a new leg down and such a trade can have a great 1:4 risk: reward ratio.
AUDJPY TL TEST AFTER BREAKOUTAs we can see a clear breakout of its previous trendline since 1st of November 2020. So now we suspect a test of its Trendline before a clear FALL
AudJpy- New leg down after confirmation?AudJpy has broken the confluence support yesterday and dropped to a local low around 79.50 zone.
A correction followed and what, at this point, could be a confirmation for this break.
I expect a new leg down from this pair and I maintain my bearish outlook and 77 target as long as the pair is under 81
AUDJPY, bullish continuation, LongAUDJPY, we can see clearly the breakout and the retest of this pair.. Price action tells further advance!
AudJpy- I expect a violent dropSince the beginning of November, AudJpy has risen 800 pips (more than 10%) and, as we can see from the chart, it almost has no correction.
I think things are about to change and the pair will dive.
From the technical point of view, AudJpy made a small double top after it passed above 80 and the Friday close found the pair just in confluence support of the ascending trend line and neck-line.
A break here will be the signal that the pair started correcting and the target for such a drop can be 77.
Also, a short trade for this pair has a 1:3 R:R ratio
AUD/JPY PAIR BREAKDOWN👋 Hey there traders, and welcome to a brand new pair breakdown!
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AUDJPY Trend ContinuationAs we all know AUDJPY is on persistent uptrend, let's profit trend continuation moving up our SL accordingly as it continues its way up....
AUDJPY - new accumulationThe short position did not work completely.
Now I think they will breakout level 79.
There are a lot of prerequisites for a breakout.
Do you agree?
last opinion
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AUDJPY forecast?price is in the up direction and we can see price has broken a recent resistance level and I just waiting for an engulfing confirmation to buy.
AUD/JPY to Long?Market Structure on the weekly indicates a long term upside to follow over the next coming weeks or so.
Analysis bases on technicals only, trade at your own risk ...
