AUD/JPY

#AUDJPY / Weekly, Daily & H4 / Two Counters

The story of AUDJPY

We have major support line A on the background. On the 27/Jan it was broken down. Note the volume [1] during the breakdown (green circle). It represented the effort of bears to beat buyers. Bear got the victory. Plot the line of resistance on this level [2].

So what's the story?
3] Panic volume activity
4] Demand surge after panic selling was absorbed (by professionals who buy the lows)
5] The first attempt to move above the blue resistance.
6] Minor low. Approximately 50% between [3] and [5]
7] The second attempt
8] No Supply
9] Demand bars
10] The third attempt

So what?
Firstly, use the resistance line (I call it RFSB) to mark the levels where buyers should meet the troubles.
Secondly, the bulls are too persistent. Note a sequence of higher lows.
I expect the blue line will be broken out shortly.

An easy trade this, if it works out:





Someone, a respected trader, once told me that a good trade was off the lowest low in these patterns. Safer and a well defined risk. As far as targets are concerned, why not 62? Or lower?

I am expecting highly upside in AUD/JPY during the next 3-12 month duration (June-March2021).

Price action looks to be failing @ 61% FIB, taking some support out along the way, with select indicators less positive.

Taking an interest in current events as it looking like another swing lower here...

4 Hr chart:

Time to top up IMO

4 Hr Chart:

Well that is quite a spike in price action (got to 0.6355), but I doubt it is going to stay there...

1 Hr Chart:

This is one of the dumbest pairs I've encountered. The price action is chaotic and deceptive.

where are you targetting? i would like to see sub 65 again

I agree with you
Looking for an entry signal, short around 70 with target at 65

No signal for short entry
So, waiting for 72 area, it may be a good area where bears can enter

Hi Traders,

This pair look interesting... 70.00 should be work like magnet and i look for shorts setups until we hit 70.0 and then.. well this level looks strong

What you guys say?

huge 20 billion long on audjpy just now!

75 will be bulls target.

Could be an attractive 30 pips to begin..

AUD/JPY used to give pretty decent swap...but now..

Went long, I see a new day high around 81.150-.180 but we'll see

Inside Day was the inspiration for the Asian session buy on Thursday

Attached Image (click to enlarge)

In this period I see H&S everywhere
The H&S has a target around 80 (if confirmed). On Weekly chart looks like market wants get under 76

Another key level test-

Perfect Storm