AudJpy is currently at a minor level of resistance/supply level which we can see some bearish pressure to the downside. After that I think if we pull back into the killzone drawn we can potentially get a retest of the highs due to the strength in the uptrend.
This is one of medium to long term scenario for audjpy . I have open a small buy on this pair with the us and China trade noise in the background, however as you can see we are in a downtrend channel that looks exhausted with caution . Technically we should see some movement upwards for price correction .
Risk is medium and reward is 3times bigger than...
My BIAS for AUD/JPY for the upcoming week is currently NEUTRAL.
My reasoning behind this is
We are currently consolidating between Daily Support level at 71.050 and Daily Resistance Level at 72.560.
We are currently at the Support level so we could see a rejection of this level for a push up towards previous 4HR Support at 71.900
Or we could see a break...
AUDJPY - Intraday - We look to Buy a break of 72.16 (stop at 71.86)
The 423.6% Fibonacci extension level of the 76.28-75.13 move is at 71.40. A Doji style candle has been posted from the base. A bullish reverse Head and Shoulders is forming. Trend line resistance is located at 72.16. A break of 72.16 is needed to confirm follow through bullish momentum. The...
AUDJPY - Intraday - We look to Buy at 74.90 (stop at 74.55)
Trades at the lowest level in 5 weeks. The overnight dip has been bought into and there is scope for further bullish pressure going into this morning. Trend line support is located at 75.00. Price action is forming a bullish flag which has a bias to break to...
daily chart shows audjpy has bounced off weekly trendline, price than made an ascending triangle but failed to break to the upside and did the opposite. Price was selling off instead, made a correctional move after impulse kicked in and broke through minor support which has now become minor resistance.
Waiting on price to retest resistance for confirmation that...