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.
Hi guys,
this is a crucial zone on AUDJPY and i was monitoring this specific price level because we've had multiple structure points on the daily.
Therefore i was looking for a buying opportunity, since the overall trend is bullish. When i went on the hourly chart i noticed a double bottom formation followed by a break of structure to the upside.
This gives me ...
Nothing extraordinary here.
Very quick idea.
There could be a little SELL here to test that little trend line on the 4h chart.
I am not going to talk much here.
SELL with a little target of 87.900, and if I'm lucky, aiming for a break of that trend line.
Keep an eye on the price action!
LONG position available, STOCH, ADR both show bullish trend / signals.
Further, flagpole break out complete - Bullish trend also confirmed.
Depending on market GAP, BUY up to resistance.
Looking for market to find support around the .618 Fibonacci retracement level in line with previous structure. Lower timeframe confirmation needed, don't blindly enter
Long story short, again, watch the first trend line. We are getting closer to it.
Will it be a good support for a rebound or will just pierce through it? We will have to observe the pair when it get's there. For now, you can try to make a few SHORTs on any pullback up on the Hourly chart. The fact that it will touch the trend line, I think its true. The question ...
