AUDJPY Trading on August 16, 2013 33 ITM

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AUD/JPY Trading on August 16, 2020: 3/3 ITM

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USDJPY Forex Chart

Ideas

Okay so looking at this pair on a weekly chart we can clearly see 3 wave corrective structure and I wouldn’t be surprised if we get an upside break in the next few weeks. The fundamentals also support this scenario based on the crisis that’s going on around the world at the moment. This coronavirus has created uncertainty around the world and in times of.

From the daily perspective, the price reaches the resistance and finished it retracement, expect the next impulse on the next week From the COT perspective, hedge fund is quite bullish on USD and bearish on JPY, expect a price will push to the downside till the daily support and bullish after that. Since hedge funds always buy low and sell high. In the 4h.

A resistance level and a falling channel on a smaller time frame. Wait for the break to buy. Please leave a like and share your thoughts! Good Luck and Stay Healthy!

Here we can see a nice trend exactly as seen before, will be waiting for entry after markets open and will look for confirmation before entering, could see a nice drop though.

First breakdown analysis Video on USDJPY. Enjoy :)

ELLIOT AND PRICE ACTION ANALYSIS

Waiting for the next impulse leg down

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A bearish crab formed within the sideways bounce(red rectangle), if a break and close below the box could have an indication of a potential bearish flag pattern. Trade has already engaged and shared with my community on Friday, let’s see how this trade turns out.

USDJPY sell opportunity on the zone

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Daily chart looks to head south next week. Fundamentals and think tank setups also affected by decision to SHORT. Will update my trade results when I have it.

In previous week, there is a reversal on the downtrend which complete the Elliot Wave for uptrend, however it might be a recovery wave in this current trend, which has to be retrace from the uptrend, in order to check for the downtrend, fib. retracement used to determine the direction and it is more possible to see a downtrend till 107.2, before it tends to look.

USDJPY has been showing some impressive moves recently. At the moment, it appears that price has broken through a key support level and is retesting it proving a good opportunity for reload sellers to push price lower. USDJPY failed to create a higher high and we saw a JPY gain alot of strength. However, we always need to be skeptical – we will be waiting for.

We are now in global shortage of $. Everyone needs $, which is increasing the demand of $. So always be long on $ with other currencies in this stage of deflation.

USD/JPY: Monthly timeframe: (Technical change on this timeframe is often limited though serves as guidance to potential longer-term moves) Since kicking off 2020, USD/JPY has been busy carving out a descending triangle pattern between 118.66/104.62. The month of March concluded by way of a long-legged doji candlestick pattern, ranging between 111.71/101.18.

OOh boi . i’m Excited about this trade right here , caught this one at the top of a corrective flag . All the indicators are showing power to the downside , Good luck all !

USDJPY is heading towards our supply zone, am anticipating a sell down if price fails to break that zone.

Market Commentary: First have an look for the positional trend i shared here previous. if you are a follower of me. and sometimes i will share the counter trend trade also in 15 mins and 1hr. but that is risky ones. so if the trend is bearish or bullish, if i am expecting the correction. book the profit there and wait the correction to end and.

Technicals

Profile

USD JPY (US Dollar / Japanese Yen)

Also known as trading the “gopher” the USDJPY pair is one of the most traded pairs in the world. The value of these currencies when compared to each other is affected by the interest rate differential between the Federal Reserve and the Bank of Japan.

AUD/JPY Weekly Technical Outlook: Price Testing Trend Resistance

In this series we scale-back and take a look at the broader technical picture to gain a bit more perspective on where we are in trend. The Australian Dollar has rallied more than 4.7% against the Japanese Yen since the yearly lows registered last month with price testing a critical resistance barrier around the 83-handle. H ere are the key targets & invalidation levels that matter on the AUD/JPY weekly chart. Review this week’s Strategy Webinar for an in-depth breakdown of this setup and more.

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AUD/JPY Weekly Price Chart

Notes: AUD /JPY is trading just below a critical resistance confluence at 83.00/05 – this region is defined by the 38.2% retracement of the 2020 decline & the 52-week moving average converge and converges on the median-line of the pitchfork extending off the 2020 / 2020 highs (blue) and former trendline support (red). Note that a resistance trigger in weekly RSI has already broken and highlights a change in the momentum profile.

A topside breach / close above this threshold exposes the 50% retracement / 2020 open at 84.25/44 with the 200-week moving average just higher at

85.00 . Support remains at the 61.8% retracement / low-week close at 76.26/29 and is backed by pitchfork support. Weakness beyond this threshold would likely fuel accelerated losses towards 76.26 and beyond.

For a complete breakdown of Michael’s trading strategy, review his Foundations of Technical Analysis series on B uilding a T rading S trategy

Bottom line: AUD/JPY has continued to trade within the August / September range and we’re looking for the break for guidance. Price is testing the upper bounds of this region and a breach / close above 83.00/05 is needed to keep the immediate long-bias viable. From a trading standpoint, ideal scenario would see prices pullback for more favorable entries while above the March lows at 80.55. I ’ll publish an updated AUD/JPY Scalp Report once we get further clarity on near-term price action. Keep in mind we have the release of Australia employment figures on tap later tonight.

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AUD/JPY Trader Sentiment

  • A summary of IG Client Sentiment shows traders are net-short AUD/JPY – the ratio stands at -1.01 (49.7% of traders are long) – neutral reading
  • Long positions are 2.1% higher than yesterday and 2.0% lower from last week
  • Short positions are 18.3% lower than yesterday and 12.6% higher from last week
  • We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests AUD / JPY prices may continue to rise. Yet traders are less net-short than yesterday but more net-short from last week and t he combination of current positioning and recent changes gives us a further mixed AU D/ JPY trading bias from a sentiment standpoint.

See how shifts in AUD/JPY retail positioning are impacting trend- Le arn more about sentiment!

Relevant AUD/JPY Data Releases

Economic Calendar – for the latest economic developments and upcoming event risk. Learn more about how we Trade the News in our Free Guide!

Previous Weekly Technical Charts

— Written by Michael Boutros , Technical Currency Strategist with DailyFX

Follow Michael on Twitter @MBForex or contact him at [email protected]

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

AUD/JPY Trading on August 16, 2020: 3/3 ITM

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EURJPY Forex Chart

Ideas

The market can be added to a watchlist as it will be able to give buy opportunities during the next week. The price reached the 1st support at 117.00, and we can expect a reversal signal. If the market continues the downward movement, the 2nd support will be at 116.00, where we also will be able to get a reversal signal. Search for exact entry points using the.

Expecting continue upside move after broken the Structure. ThankYou

This is my latest analysis on EUR/JPY. 1 Hour break out strategy applied. What I would like to see is price action back up around the 118.000/118.500 by the end of the week but do believe the biggest factor is going to be whether or not the European Centrals Banks Monetary Policy Meeting on Thursday will shed some sort of relief for the EU. What I’m.

Price is at a major support level. in 4hours, there is descending channel formation. possible entry available if price break and retest.

As we see there is a consolidation on the latest price zone (116.559 to 117.416) From the latest short term downtrend, need to wait for another breakout either minor trend line resistance or major strong support line In short term trade, it is highly suggested to buy with a small profit before aiming for a big sell.

Hello Traders ! Quick Setup EURJPY. We are at the daily Demand Zone and we can expect a push to one of the 2 h4 Supply Zones before we can see it dropping again. That was my Idea and I hope liked it. Please leave a LIKE if you like my Content that I share with you. In the comment section you can tell me your view and ask questions. Thank you and we will see.

Multiple setups formed on multiple timeframes. The weekly chart bullish bat, daily chart, bullish shark, 4-hourly and 1-hourly bat and M15 emerging bullish butterfly. I can easily call this the royal flush, can’t I? I can’t stress more on how important is this trade setup means to me and to the market. It might be one of the most important counter-trend trading.

EURJPY Neutral Idea This pair has been moving with a large amount of volume over the last few weeks. At the current level it would be too risky to continue shorting although the overall trends on higher timeframes are very bearish Price action is just too extended to make a good trade at the moment. For us to enter a trade we want to see a retracement to a key.

If there is a break to the upside, potential targets.

Buy limit 115.200 a 3-3-5 expanded flat and currently completing the 5th wave. we looking to buy it at the price level @1115.200.look for any rejections of the price @115.200 before you enter ,if you have a happen to have a small account ,look to enter when the moment is on your side , to avoid holding unnecessary loss and future risk blowing your account even.

a pullback to 118.000 will be best price to sell from

This will be a nice intraday trade if we get the touch of the trendline and resistance for continuation. However, we have just seen an inverse head and shoulders so I am being wary as the bulls could step back in and potentially take this higher. Longer swing term, I will be trading EURJPY to the upside. If you would like to follow my trades and analysis further.

The price is around a strong resistance area. That area has been tested 3 times already with this been the 4th time of testing. Price rejected at the 116.500 psychological level. It has formed a shoulder and a head. waiting on the second shoulder to form and a rally on the upside.

I believe we will break out of these 2 zones reason being is because we have touched and bounced off the daily support and as you can see the bulls come in EXTREMELY strong at this exact area. After the rally i’m not 100% sure whether we will drop or continue up as we will be sitting on a strong weekly resistance level. Please take a look at my analysis and let me.

EUR/JPY has reached its Demand Zone and seems like it is trying for a strong rejection , making it to change its direction upward . Most likely , its a good place to enter a Long Trade with a safe lot size ( Because there are chances it can pullback before continuing its uptrend momemtum) Good luck !

The pair is bearish in long term. and you can see price just broke out of that pattern this suggests continuation and we can further losses in this pair

Technicals

Profile

EUR JPY (Euro / Japanese Yen)

The Euro vs. the Japanese Yen. The Yen is a historically low-yielding currency, influencing traders to borrow cheaply in JPY to purchase higher-yielding currencies, including EUR. Because of this the pair is sensitive to broad-based market sentiment trend swings. Volatility may be found in news related to the Eurozone debt crisis and from the Bank of Japan’s anti-deflation policy efforts introduced in 2020.

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