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AUDJPY trade ideas

More Yen weaknessBOJ under pressure after US ISM data stronger than expected causing Yen Weakness has markets on watch for an intervention, not to happen during Asian session (their own). Market survey expects intervention at the 152 level. BOFA see a print north of 160 if FED further delays cuts, if at all...YUAN pressure mounting, too. Markets surveys report expected 200k jobs print this Friday, north of that expect a bounce above 152 and BOJ jawboning and/or intervention possibly the catalysts, all else equal, rangebound holding pattern until Fri.
Long
by CurrencyCapital
AUDJPY Under Pressure! SELL! My dear followers, This is my opinion on the AUDJPY next move: The asset is approaching an important pivot point 98.553 Bias - Bearish Technical Indicators: Supper Trend generates a clear short signal while Pivot Point HL is currently determining the overall Bearish trend of the market. Goal - 98.441 About Used Indicators: For more efficient signals, super-trend is used in combination with other indicators like Pivot Points. ——————————— WISH YOU ALL LUCK
Short
by AnabelSignals
1
AUD/JPY continue with the Downtrend 👇On AUD/JPY it's nice to see a strong sell-off from the price of 99.580. It's also encouraging to observe a strong volume area where a lot of contracts are accumulated. I believe that sellers from this area will defend their short positions. When the price returns to this area, strong sellers will push the market down again. The downtrend combined with the strong volume area along with the strong S/R area from the past are my main reasons for this short trade. Happy trading, Dale
by Trader_Dale
AUD/JPY Poised for Downtrend Amid Fibonacci and RSI Signals The AUD/JPY pair is exhibiting a bearish demeanor in the upcoming market cycle. A close examination of the chart reveals that the previous bullish trend was notably robust, ascending sharply to the 100.62 level. However, the ensuing bearish trend has unfolded in a less direct manner, adopting a zigzag pattern that incrementally steps downward. This pattern increases the likelihood of retracements, which we have already observed. The initial retracement occurred within the Fibonacci levels of 0.382 to 0.5, with price oscillations between 99.182 and 99.369 respectively. This price behavior provides a strong indication of a continuing bearish trend. Subsequently, the second retracement transpired within the range of 98.82 to 98.70. Currently, the price is situated at the third Fibonacci retracement level between 98.65 and 98.56, and we anticipate a pullback from this zone. A further descent is expected, particularly if the price breaks through the 98.19 support level. RSI Insight: During the aforementioned retracement phases, the Relative Strength Index (RSI) also plays a pivotal role in determining the strength of the retracements. For the third retracement to be deemed significant, the RSI should cross above the 60 mark, reinforcing the validity of the pullback. Stop Condition: The outlined bearish perspective could be negated if the price breaks and sustains above the 98.92 level. Such an upward movement would call for a reassessment of the bearish outlook and potential revision of trading strategies. Endnote: The current technical setup of AUD/JPY suggests a bearish continuation is more likely, with Fibonacci retracement levels and RSI confluence supporting this view. Traders should monitor these levels closely, with a keen eye on the RSI for additional confirmation. As always, it's prudent to implement sound risk management practices to mitigate against unforeseen market movements.
Short
by ClearTradingMind
AUDJPY Bearish TrendAnalyzing the provided details for the AUDJPY bearish trend trade: Trade Type: Sell Limit Entry Level: 98.548 Stop Loss: 98.763 Take Profit: 98.3330 Risk-to-Reward Ratio: 1:1 Here are a few observations: Entry Level (98.548): This is the level at which you intend to enter a sell limit order for the AUDJPY currency pair, anticipating a bearish move. Stop Loss (98.763): The stop-loss level is set at 98.763, which means that if the market moves against your trade and reaches this level, your position will be closed to limit potential losses. Take Profit (98.3330): The take-profit level is set at 98.3330, indicating the price level at which you aim to exit the trade and secure potential profits if the market moves in your favor. Risk-to-Reward Ratio (1:1): The risk-to-reward ratio is 1:1, meaning that the potential profit (from entry to take-profit) is equal to the potential loss (from entry to stop-loss). This ratio indicates a balanced risk-reward scenario for this trade setup.
Short
by Thrifttrader89
AUD/JPY Fails to Hold Above Former ResistanceAUD/JPY falls towards the 50-Day SMA (97.85) after failing to hold above the former resistance zone around the February high (99.06), but the exchange rate may track the positive slope in the moving average if it continues to hold above the March low (96.90). AUD/JPY Rate Outlook AUD/JPY is under pressure after registering a fresh yearly high (100.17) during the previous month, with a break/close below 97.60 (50% Fibonacci extension) raising the scope for a test of the March low (96.90). Next area of interest comes in around 96.20 (38.2% Fibonacci extension), but AUD/USD may attempt to retrace the decline from last month if it continues to hold above the moving average. Need a close back above the 98.77 (2022 high) to 99.00 (61.8% Fibonacci extension) region to bring the yearly high (100.17) on the radar, with the next area of interest coming in around 100.90 (38.2% Fibonacci extension) to 101.37 (December 2014 high). --- Written by David Song, Strategist at FOREX.com
by FOREXcom
AUDJPY to find buyers at market price?AUDJPY - 24h expiry Price action has continued to trend strongly lower and has stalled at the previous support near 98.60. Price action looks to be forming a bottom. Momentum is flat, highlighting the lack of clear direction. Risk/Reward would be poor to call a buy from current levels. A move through 99.00 will confirm the bullish momentum. We look to Buy at 98.60 (stop at 98.32) Our profit targets will be 99.30 and 99.50 Resistance: 99.00 / 99.10 / 99.25 Support: 98.60 / 98.50 / 98.35 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Long
by OANDA