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Audjpysell

AUDJPY strong resistance broken, time to start buyingBuy above 87.93. Stop loss at 87.20. Take profit at 88.82. Reason for the trading strategy (technically): Price has broken a strong resistance level which has led to a change in our momentum from bearish to bullish. We prepare to buy on dips above 87.93 support (Fibonacci retracement, horizontal overlap support) for a push up to at least 88.82 resistance (Fibonacci retracement, horizontal swing high resistance, Fibonacci extension). RSI (34) sees an ascending support channel supporting our bullish momentum view.
Long
by MEX_Exchange
3
AUDJPY now on major resistance, time to turn bearishSell below 87.93. Stop loss at 88.43. Take profit at 86.66. Reason for the trading strategy (technically): We caught the rise on AUDJPY quite nicely yesterday. Today we’re starting to see it on major resistance (Fibonacci retracement, horizontal overlap resistance) and we expect to see a strong drop from this level to push price down to at least 86.66 support (Fibonacci extension, horizontal swing low support). Stochastic (34,3,1) is seeing major resistance at 99% where we expect a corresponding reaction from. Correlation analysis: We’re seeing commodities weakness with drops expected on AUDUSD, AUDJPY and NZDUSD.
Short
by MEX_Exchange
5
AUDJPY bouncing up nicely, remain bullish for a further riseBuy above 87.81. Stop loss at 87.40. Take profit at 88.75. Reason for the trading strategy (technically): Price has bounced up nicely from our buying area and made a bullish exit of an intermediate descending resistance-turned-support line. We remain bullish looking to buy above major support at 87.81 (Fibonacci retracement, horizontal overlap support, Fibonacci extension, bullish divergence) for a push up to at least 88.75 resistance (Fibonacci retracement, horizontal swing high resistance). Stochastic (31,3,1) is seeing strong support above 2.5% where we expect a bounce from. We can also see bullish divergence vs price signalling that a bounce is impending.
Long
by MEX_Exchange
15
AUDJPY profit target reached perfectly, time to start buyingBuy above 87.81. Stop loss at 87.40. Take profit at 88.75. Reason for the trading strategy (technically): Price has dropped absolutely perfectly from our selling area and reached our profit target. We prepare to buy above major support at 87.81 (Fibonacci retracement, horizontal overlap support, Fibonacci extension) for a push up to at least 88.75 resistance (Fibonacci retracement, horizontal swing high resistance). Stochastic (31,3,1) is seeing strong support above 2.5% where we expect a bounce from.
Long
by MEX_Exchange
AUDJPY profit target reached perfectly, time to start buyingBuy above 87.81. Stop loss at 87.40. Take profit at 88.75. Reason for the trading strategy (technically): Price has dropped absolutely perfectly from our selling area and reached our profit target. We prepare to buy above major support at 87.81 (Fibonacci retracement, horizontal overlap support, Fibonacci extension) for a push up to at least 88.75 resistance (Fibonacci retracement, horizontal swing high resistance). Stochastic (31,3,1) is seeing strong support above 2.5% where we expect a bounce from.
Long
by MEX_Exchange
AUDJPY approaching profit target as expected, prepare to sellSell below 88.88. Stop loss at 89.39. Take profit at 87.89. Reason for the trading strategy (technically): Price has continued to rise nicely towards our profit target since we caught the bounce perfectly. Today we change view and prepare to sell on major resistance at 88.88 (Fibonacci retracement, swing high resistance, channel resistance) to begin the drop towards 87.89 support (Fibonacci extension, horizontal swing low support). Stochastic (34,3,1) is seeing major resistance below 99% and we expect to see a nice drop from this level.
Short
by MEX_Exchange
AUDJPY broken out of triangle formation, remain bullish Buy above 88.04. Stop loss at 87.59. Take profit at 89.09. Reason for the trading strategy (technically): Price has finally made a bullish exit of its triangle formation and continues to hover nicely above our buying entry. We remain bullish looking to buy above support at 88.04 (Fibonacci retracement, Fibonacci extension, horizontal swing low support, bullish divergence) and play the breakout from the triangle towards 89.09 resistance (Fibonacci retracement, horizontal pullback resistance). Stochastic (55,3,1) is seeing bullish confirmation with a recent bullish exit of our triangle formation signalling that a change in momentum is fast approaching.
Long
by MEX_Exchange
AUDJPY breaking out as expected, remain bullishBuy above 88.04. Stop loss at 87.59. Take profit at 89.09. Reason for the trading strategy (technically): Price has finally made a bullish exit of its triangle formation. We remain bullish looking to buy above support (Fibonacci retracement, Fibonacci extension, horizontal swing low support, bullish divergence) and play the breakout from the triangle towards 89.09 resistance (Fibonacci retracement, horizontal pullback resistance). Stochastic (55,3,1) is seeing major support above 7% and also sees bullish divergence vs price signalling that a reversal is fast approaching.
Long
by MEX_Exchange
AUDJPY breaking our as expected, remain bullishBuy above 88.04. Stop loss at 87.59. Take profit at 89.09. Reason for the trading strategy (technically): Price has finally made a bullish exit of its triangle formation. We remain bullish looking to buy above support (Fibonacci retracement, Fibonacci extension, horizontal swing low support, bullish divergence) and play the breakout from the triangle towards 89.09 resistance (Fibonacci retracement, horizontal pullback resistance). Stochastic (34,3,1) is seeing major support above 7% and also sees bullish divergence vs price signalling that a reversal is fast approaching.
Long
by MEX_Exchange
AUDJPY forming a nice reversal pattern, remain bullishBuy above 88.04. Stop loss at 87.59. Take profit at 89.09. Reason for the trading strategy (technically): Price is finishing its triangle configuration which is a sign that a reversal is impending. We look to buy above support (Fibonacci retracement, Fibonacci extension, horizontal swing low support) and play the breakout from the triangle towards 89.09 resistance (Fibonacci retracement, horizontal pullback resistance). Stochastic (34,3,1) is seeing major support above 7% and we expect a stronger bounce above this level soon.
Long
by MEX_Exchange
AUDJPY right on buying level, remain bullishBuy above 88.52. Stop loss at 87.89. Take profit at 89.66. Reason for the trading strategy (technically): Price is now testing major support at 88.52 (Fibonacci retracement, Fibonacci extension, horizontal overlap support, bullish divergence) and we expect to see a bounce above this level to push price up to 89.66 resistance (Fibonacci extension, horizontal swing high resistance). Stochastic (34,3,1) is starting to bounce nicely from our 5% support and ha good upside potential.
Long
by MEX_Exchange
1
AUDJPY right on buying level, remain bullishBuy above 88.52. Stop loss at 87.89. Take profit at 89.66. Reason for the trading strategy (technically): Price is now testing major support at 88.52 (Fibonacci retracement, Fibonacci extension, horizontal overlap support, bullish divergence) and we expect to see a bounce above this level to push price up to 89.66 resistance (Fibonacci extension, horizontal swing high resistance). Stochastic (34,3,1) is starting to bounce nicely from our 5% support and ha good upside potential.
Long
by MEX_Exchange
AUDJPY testing major support, time to start buyingBuy above 88.52. Stop loss at 87.89. Take profit at 89.66. Reason for the trading strategy (technically): Price is now testing major support at 88.52 (Fibonacci retracement, Fibonacci extension, horizontal overlap support, bullish divergence) and we expect to see a bounce above this level to push price up to 89.66 resistance (Fibonacci extension, horizontal swing high resistance). Stochastic (34,3,1) is seeing support above 5% and also sees bullish divergence vs price signalling that a reversal is impending.
Long
by MEX_Exchange
AUDJPY remain bullish for a further push upBuy above 88.92. Stop loss at 88.40. Take profit at 89.79. Reason for the trading strategy (technically): We look to continue to buy above major support at 88.92 (Fibonacci retracement, horizontal overlap support) for a further push up to 89.79 resistance (Fibonacci retracement, horizontal pullback resistance). Stochastic (34,3,1) is bouncing up nicely from our 5% support and still has some upside potential to go which coincides with the wise we expect in price.
Long
by MEX_Exchange
AUDJPY holding well above our ascending support, remain bullishBuy above 88.92. Stop loss at 88.50. Take profit at 89.79. Reason for the trading strategy (technically): Price is seeing strong support above 88.92 (Fibonacci retracement, ascending support) and we expect to see price continue on its bullish trend by making a push up to 89.79 resistance (Fibonacci retracement, horizontal pullback resistance). Stochastic (34,3,1) is seeing strong support above 5% and we expect a bounce above this level.
Long
by MEX_Exchange
AUDJPY look to buy on weakness to play a further riseBuy above 88.68. Stop loss at 88.33. Take profit at 89.47. Reason for the trading strategy (technically): Price continues to rise in our bullish channel. We look to buy on weakness above major support at 88.68 (Fibonacci retracement, horizontal overlap support, Fibonacci extension) for a further rise towards 89.47 resistance (Fibonacci extension, horizontal swing high resistance). RSI (34) remains above our ascending support line signalling that we have not seen the end of our bullish momentum.
Long
by MEX_Exchange
AUDJPY dropping perfectly as expected, prepare to sell Sell below 88.68. Stop loss at 89.40. Take profit at 87.91. Reason for the trading strategy (technically): Price has dropped absolutely perfectly from our selling area as expected. We tighten our stop loss to protect our profits. Now we look to sell further when price breaks 88.68 support (Fibonacci retracement, double top confirmation) and we will ride the drop all the way down to 87.91 support (Fibonacci retracement, horizontal overlap support). RSI (34) sees an ascending support line hold it up. Only a break of this ascending support would confirm the drop we’re expecting on AUDJPY.
Short
by MEX_Exchange