AudJpy is in a weekly and daily downtrend. Price has pulled back to the previous structure lows of June 2019 and could possibly continue its bearish journey.
If todays candle closes as a bearish pin bar it is quite likely to to test the 72.52 area, previous structure highs.
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 a my set up on AUDJPY, waiting for a break and retest before going long. Explanation in analysis.
Don't usually trade this pair so will see how this plays out...
AUD/JPY Seeming to have bottomed out and finding consolidation on the H4 and the D1. CMP Entry @ 18:45 GMT+1 Holding this one for a while. Hopeful Long Term Play.
Hi All,
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...
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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