I've seen a number of charts on TradingView publishing a buy on this pair on a "retracement" or "pull back".
However, I disagree with this and speculate that this pair will be coming back right down.
I won't go too much into it as my chart speaks for itself.
Trade safe and good luck!
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...
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.
Here is a simple short set up on AUDJPY.
Price seems to be making a lower high and rejecting the Fib 0.786 Retracement level. There has been a lot of price action at this level previously so there is potential for good liquidity to be located in this zone.
Decent R:R of over 5:1 if we target the previous lows and the 77.500 support region.
I would place my stop...
AUDJPY is in a critical zone on the 3D time frame. This is one to get ready to short, on a lower time frame. Price is struggling in the congestion zone, which contains a heavy bearish investor sentiment. This does not mean price is bound to head south. It means that the probability estimate from this time frame is for the south. For every probability in one...
AUDJPY was travelling in a horizontal channel until we saw a breakout to the upside a few days ago through the resistance zone. Price has now come back down to the 0.382 retracement level of the previous move upwards which is also where the previous resistance zone (now support) is. This indicates price is going up, but where?
Our target is at the top of the...
Market is Retesting to go Backup , All Technicality Seen
Location : audjpy h4
Best OF Luck
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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...
Price has overall been travelling in a DESCENDING channel, price hit the bottom of the channel and now price has broken above the mini descending trend line it was following quite strongly. we expect price to move down to the descending trend line as it has also formed an ascending channel wile breaking out.
We believe price will move up all the way to the top of...
On the daily we broke above a level of consolidation with some room to go higher or at least retest this high on the 4hr if we get a pullback. It is a bigger Killzone than highlighted but that is where I believe price will bounce of. Also lines up nicely with a 61.8 retracement in the same zone. Rsi is also overbought currently which indicates strength in the move overall.