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We last posted on the AUDJPY on March 17th when we were waiting for 2 key support levels to be broken.
The first, the drawn-in pivot lows of March, have now been broken and confirmed as resistance. This would potentially offer a short entry into the trade but this is where we are applying patience and waiting for the next key support level, the round number 80, ...
The CHFJPY has been trending very nicely since the end of January when price found resistance at the high of July 2017 just short of 119.00. Price has since fallen circa 800 pips taking price out of an area of consolidation.
I have drawn in the support zone that was acting as the base of the consolidation. In March, we have seen a classic break and retest of ...
The AUDJPY has setup nicely for a pullback entry short into an established bear trend. This must be taken at reduced risk for the reasons mentioned below.
Monthly - Price is trading inside the annual levels of 2017 but has been in a bear trend since the start of 2018.
Weekly - Price is trading below the 200SMA and the 50SMA.
Daily - Price is trading below the ...