I am currently a bull on Yen for a few reasons-
1. Investors tend to take out money from their previous financial year positions and put it into yen currency to avoid taxation during end fiscal period/finacial year. This tends to make the Yen strong and bullish.
2. The AUDJPY technically is between important resistance 85 amd 86 psych levels. Areas for Bears to now enter and sell this pair.

This is purely a behavioural and technical setup with no thorough fundamentals.

AUDJPY Daily

Price has broken the trend line moved from MR1 indicaticing price move tto the downside amd possible reversal in trend. Bears are looking to sell at this resistance pivot point down to possibly MS1/MM1. Price bounced amd moved up at MM2 support to retest the MM3 resistance level. Bears will enter at the 61.8 FIb to push price down into MS1 @82 price psych level.

AUDJPY H4

Price moved up from WM1 to bulls target if WR1. price is now above WPP at 55 MA, which predicts a possible double top for price to move down. From WM3 resistance to WM1.

AUDJPY H1

Possible HS pattern at the 85.6 price level of resistance. A retest of WM3 @85.5 price level psych migjt ne confirmation for bears to increase their positions on this pair.

3 thoughts on “AUDJPY Sell 100117”

  1. Daniel Chan - Forex.Today says:

    Thanks Dumisani , greak analysis 🙂

  2. Malesela Nkwe says:

    Boss, I’ll learn from your plans.. dankie.

  3. Dumisani Vilakazi says:

    It is really a pleasure I am humble. Thank God

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