AUD/JPY

I don't have a lot to say, just realized there's no thread for AJ; though i think it's overvalued nowadays, in long term it may go down more than 150 pips.

It fell 305 pips in last 3 days.

If USD/JPY goes down, AUD/JPY probly will go down too though. There's a correlation between them.

we should wait for the news but I think sell ,,, the fibonacci on the chart show the sell ...

wait now.

I opened long term sell in it at 103.80 ...

Not bad, but i beat you to the punch i got in at 104.65 with a PIN Bar setup

Now the question is where to exit ???

Enjoy
Ademac

I realy started to believe USD/JPY and AUD/JPY are twin bros. Whenever USD/JPY makes major bounce or down AUD/JPY following completely similar.

As do the AUD/USD and AUD/JPY look very similar

Risk Aversion sets in, AUD/JPY and USD/JPY drop like rocks. AUD/JPY is more exaggerated movement because investors are cutting their longs and converting back into USD (AUD/USD therefore goes down as well; USD/JPY is propped up somewhat, ie. not as large a drop).

AUD/USD and AUD/JPY begin to gain once USD are again reinvested into the riskier assests. Short when panic sets in for a fast ride down, and take longs again when the panic resides. Too many pips to be made right now haha.

Rob

problem now is the aud/jpy depends on the wall street.......it is like the shadow of dow jones.......

last few days, just following wall street's up and downs......how to decide to buy or not ???

i thought of long aud/jpy and short chf/jpy but found that in the last 2 large drops the difference is still -400 pips on average so losses can be very great if realizing the loss and the interests gained is no help at all.......

so i giving up the idea.

Now that we're seeing lots of sub 100 prices I would expect to see the carry trade start to wind back up rather quickly if we start to see more market stability. I'm looking long around 98.20/50.

VERY steep descending triangle coming up against some equally giant bull support right now. Could be looking at some new lows very soon...

all depends on the dow jones......

sometimes go up and if you fall into this trap before all the bad news subsides.........

then prepare to jump off a building too.......10 pips = 1 floor