I have posted this AUDJPY trade setup several time, but finally it seems to be ready.

2016-01-26_18-35-31-AJ1

The basic idea was … Double Bottom + Higher High on H4 chart, and try to buy from the next Higher Low.   Now the price may be at Role Reversal Support, which potentially could be “Higher Low” that we were waiting for.

Previously on Hourly chart, I said the buy zone would be Fib38.2-61.8% zone.  So far, this price seems to have bounced up from this sweet spot.  Also notice Stochastic has shown Bullish divergence.

2016-01-26_18-41-04-AJ2

It’s not too late to buy this pair.

On M15 chart, Stochastic is now in the Overbought zone.  So we can expect a mini-pullback.

2016-01-26_18-42-23-AJ5

I would like to buy this pair from the next Higher Low.  (check of Stochastic to gauge the bottom)

Alternatively, if the price makes Higher High, then we can buy this pair from the retest.

 

Hope you find this setup helpful.

 

YJ Baik – Forex.Today @ Tokyo

 

 

 

 

 

One thought on “AUDJPY Trade Setup (Jan 26)”

  1. Ryan Gandalf van Jaarsveld says:

    Thank you YJ!! Great day for AUDJPY!!! Thank you for all your posts and for helping us traders collect pips!!

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