Audjpy

Discussion in 'Forex' started by positiontrade, Feb 21, 2008.

  1. Strong resistance at 9945. I was expecting a drop to 9850. AUDJPY has been floating at those resistance levels.

    Thoughts?
     
  2. there it is... sweet profit taking.
     
  3. sam0182

    sam0182

    Good play there. I rode that uptrend the last couple of days but was out, awating to see how it would react as we got closer to the 100 level - where I expected major resist.

    Looks like it came a little early! :)
     
  4. expiated

    expiated

    This pair is nowhere near crossing below my trigger line, so I am basing this trade on AUDJPY’s overall bearish sentiment and on market structure.

    AUDJPYH1.png
     
  5. expiated

    expiated

    Not only was my target hit, but the rate is all the way down to 78.86 at this time.
     
  6. expiated

    expiated

    I'm long from 82.87 based on a slightly adjusted approach to interpreting my 30-minute forecast model, so I'm curious to see whether or not my take-profit target is eventually hit.

    AUDJPYM5.png