AUD/JPY

#AUDJPY / Weekly & H4 / Bullish & Bearish Idea

AJ / NJ seems way too oversold in my opinion. I'm looking to take some longs when the market opens today. Who else is thinking similar?

it looks it will now be trapped for comming months. see the rectangle.

TP 1/2 at red cross. The indecision around 72.150 gave me doubt. Will review remaining trade, possibly TP at TL if it bounces

TP 2/2 72.019. I'm done for the day, happy with that.

Started Longs for a retrace of 30-40 Pips.

booked good pips now running a small risk free.

#AUDJPY / Weekly, Daily & H4

On my system AUDJPY target for now is 73.70 and 74.00 area. looking to place longs soon.

If you have read my previous analysis of AUDJPY and my comments on it, you know that I was targeting 38.2% and 50% levels of whole swing up on daily. These targets have already been hit by AUD/JPY.
Today, I entered short at 30% retracement of recent move down on H1.
An up-spike was caused by RBA event yesterday but downward move continued because of dovish RBA.
Having seen scenario on USD/JPY, I am targeting 71.00 this time.

#AUDJPY / H4

Closed AUDJPY with +50.0 pips. USD/JPY seems to pull back from this level and AUD/USD has also been pulling upward recently, so staying short anymore is not advisable, nevertheless I be will monitoring further development in AUD and USD/JPY to determine if I can short AUD/JPY again to target 71.00.

#AUDJPY / H4

Here is how I am trading the audjpy in the week ahead (video set to AUD/JPY Forecast)

#AUDJPY / H4

Agree on your first target. Mine is at around 72.50 but I am not seeing more of a down move from there. Surely, we need to wait for next week to find out. Good analysis !! Thank you for sharing.

Buy AUD/JPY and NZD/JPY | Nov 05, 2019

Fundamental:

About JPY: The most traded JPY pair (USD/JPY) has been recovering since last of Aug as US-China trade war has been being subdued. A short down move occurred between Sept 19 and Oct 3 but it was just a ABCD↓ pullback, then the pair continued moving up. Recent negative news about US-China trade deal caused a sharp fall in JPY pairs on Oct 31 but the pairs soon started recovery as positive news (ref1, ref2, ref3) about the same came on Nov 1.

Today's news about US tariff on China and probability of BOJ's action (ref1, ref2) helped the pair to gain a bit more, and it has almost erased fall of Oct 31.

About AUD: AUD/USD changed trend to bullish in first week of Oct and kept up-trending for the whole month. RBA didn't seem as dovish as many analysts expected, although economic data from Australia in last one month was mixed with most of them being bearish (ref1, ref2). AUD seems to be a proxy currency of China in most of the cases, positive China's Caixin Manufacturing PMI helped AUD to gain.

About NZD: NZD/USD also changed trend to bullish in first week of Oct and kept up-trending for the whole month. Positive ANZ business confidence and change in Westpac view about NZ interest rate also helped the currency. Fall in NZD started on Monday but it took support as RBNZ Gov Orr Spoke.

Technical:

If you have read my previous analysis of AUD and NZD, you know that I've been in bullish side. USD/JPY has been bullish too at the same time, which makes a perfect scenario to go long in AUD/JPY and NZD/JPY.

Fall in NZD started on Monday but it took support as RBNZ Gov Orr Spoke. Then today's news about US tariff on China made an engulfing bullish candle on H1 and I entered buy. At the same time, engulfing bullish candle in AUD was made too and I entered buy in AUD/JPY too. I was not expecting RBA to be as dovish in upcoming RBA statement today, so there was no contradiction to my bullish view.

These fundamental and technical factors are sufficient to make both pairs penetrate/touch their previous swing highs.

Risk: This setup (in both pairs) will fail if H1 candle closes below low of engulfing candle.

AUD/JPY trade has successfully been accomplished at TP target.