Guys, AUDJPY has been on the uptrend for quite some while, we could capitalize on the retracements meaning we are looking for a quick form of downwards movement.
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AUDJPY is Bearish - We look to Sell at 69.80
▪️ Bespoke resistance is located at 69.80.
▪️ The medium term bias remains bearish.
▪️ Negative overnight flows lead to an expectation of a weak open this morning.
▪️ Although the anticipated move lower is corrective, it does offer ample risk/reward today.
▪️ Expect trading to remain mixed and volatile.
AUDJPY is approaching its support at 75.34 (100% &61.8% Fibonacci extension, horizontal swing low support) where it could potentially bounce to its resistance at 77.28 (38.2% Fibonacci retracement, 61.8% Fibonacci extension, horizontal swing high resistance).
Stochastic (89, 5, 3) is approaching its support at 4% where a corresponding bounce could occur.
Placing a short term buy trade on Aussie Dollar versus Japanese Yen on the pair trading down to support levels on declining volumes- suggesting the selling is running out of steam which at the same time is lining up with the pair trading into oversold territory levels. Additionally stochastic is showing, from extreme levels, that the market is...
I AM LOOKING FOR THIS PAIR TO GO SHORT HOWEVER I WOULD LIKE TO SEE THIS BULLISH TRENDLINE BREAK AND FOR EVEN MORE CONFIDENCE OF TAKING THIS SHORT I WOULD WAIT FOR THIS TO REACH BELOW THE 79.60 LEVEL.
WE HAVE GOT A NICE SUPPORT AROUND THE 77.60 MARK SO THEREFORE THIS WOULD BE MY TP LEVEL.
WE HAVE JUST HIT THE 61.8% ON FIB AND SHOWN REJECTION SO THIS WOULD BE A...
Short trade set up with good R:R ratio and it should also provide scale in opportunities when the 4hr trendline is broken.
Entry 1 is on the Friday daily close with a large wick rejection candle.
Entry 2 is on the 1hr lower high and rejection of previous support/resistance zone at 79.200
Targeting previous daily/weekly lows at 77.500 if the 4hr trendline breaks.
Risk To Reward 1:30
Meaning if you...
Risk £100 > Reward £3000
Risk £1000 > Reward £30,000
Risk £10,000 > Reward £300,000
I will let you guys know in my telegram group for when om going to enter this trade. The better the entry = tighter SL = better RR = LAMBOS BRO
the aussie has shot up against all currencies and has produced an incomplete sequence suggesting that significantly higher prices are likely. To take a trade we need to see a significant pullback against the trend, this AUDJPY would appear to offer the best prospects, the recent rise was impulsive and looks potentially over extended. I would like the pullback to...
Price has once again reached the bottom of a bullish channel. This has provided a key area of rejection. This provides a good opportunity for a buy as there is no indication that price will breakthrough. Ideally, targets would be at the top of the rising channel. However, there is a clear area of resistance midway up where a bearish trendline and line of...
On my previous post I stated that there could be a downside movement for this pair. However, there was a large amount of upside movement which looked like it was due to noise or news which has been released. As seen yesterday there was some news released for AUD which may have sparked the current increase in buyers.
I feel that the noise period is over and a...