nelsyboy

AUD/JPY Target Price 8810

Long
FX:AUDJPY   Australian Dollar / Japanese Yen
Despite a tricky run from 15Jan to 3rd Feb you would still have a good result by following the overall trend based on the weekly charts. Price is currently re-tracing the move that started in Nov2014 high and ended with a March 2020 low. Price is now half way there, i.e. 50% FIB and so things could get even more choppy. However, by sticking to BUYING only when price is above the donchian mid-point and the heikin ashi candle has a decent green body (not a doji) then all should be good. Entering long now might be risky as I expect some red candles on heikin ashi shortly. Maybe after it settles down and there is a good body on the next green candle after the reds, then that would indicate the move up is back on.
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