AUDJPY H4, showing signs of very strong convergence, market clearly going the opposite way to our indicator.
A counter trendline has been put in place for more clear break and retest and entry scenarios.
Targets are also drawn.
On the right we have AUD weighted index H8, where we can see it has tapped off a clear demand zone, I believe we can see some reaction,...
Afternoon traders,
Looking at Aussie dollar taking advantage of the golden week Japanese holiday and its bounce back from oversold status against US dollar. The pair is trading at 100 day moving average (78.85) having found support around low 78 area and the formation of two bullish candles on the 4 hourly highlighted in our trading view chart.
This isn't the...
Morning traders
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...
AUDJPY is travelling in a descending channel, Price hit the top and price plummeted down and even broke a major support zone marked out with a pinnk rectangle,
We are expecting price to come back up to retest this zone before dropping down to touch the bottom of the channel, our first minor target is the -0.27 extension level as we are expecting price to retest...
We believe this pair has already began the move which we analysed to be a bearish move. We have shown you our analysis and invite you to monitor the trade and our results.
Price of AUDJPY opened with an extremely large gap downwards.While it did it broke below the major support zone, it has started making its way up and we expect price to go up and test the descending trendline at the 0.500 - 0.618 retracement level before dropping down to the -0.27 extension level
This pair is the Australian Dollar against the Japanese Yen. In regards to U.S. equities on a short to medium term basis, it is often one of the most highly correlated pairs to price action. The pair tends to decline is a risk off approach and rise in a low risk environment on carry flows.
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