Aud/Jpy(short, sell)
Hello everyone ;)
For this week I see a perfect opportunityat AUD/JPY to short or sell. From fundimental point of view my opinon is that at Australian dollar is started to forming a bubble, because australian dollar is to strong at least 2 months because of well handling of whole COVID19 situation. Today they reported just 6 new infection. Australia may not open broder for whole 2021 year to prevent new strain of COVID19 called B.1.1.7, which can affect on cash flow at Australia. Finally Japan will start a big project of vaccination at end of February which can gave a huge boost to Japanese Jen, but at the moment they have problem with the project of vaccination. Last survey showed that Over 80% — or 38 of the 47 prefectural capitals — have raised concerns about whether they have enough doctors and nurses to vaccinate residents against the coronavirus as the nation prepares to start inoculations in late February, according to a Kyodo News survey. My opinion that they will resolve that problem quickly because they are Japan, best organized country in whole world. From tehnical point of view we can see forming a LL and LH at 4h time frame and at 1 day time frame. Downtrend started at price of 80.055 where price multiple times tested resistance line. If you like to trade with moving averages it is very good signal to sell because EMA21,EMA50 and EMA200 are above the price. We have a bearish divergence which a mark on the Stohastic is also good signal to entry. So where to enter to a trade. My preference is to wait a breaking of triangle pattern and support line. First SL will be at above first HIGH or second SL will be at second HIGH. First TP will be at price of 79.537(depends on your trading style) and second one if you are looking more than one day will be at price of 78.831.
WHAT DO YOU THINK ABOUT THIS SETUP?
Please let me know in the comment section!
THANKS FOR READING!
If you have some different opinions please let me know and if you like this please hit that like button and give me support, I will appreciate every support.
Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts. The information given is not Financial advice.
For this week I see a perfect opportunityat AUD/JPY to short or sell. From fundimental point of view my opinon is that at Australian dollar is started to forming a bubble, because australian dollar is to strong at least 2 months because of well handling of whole COVID19 situation. Today they reported just 6 new infection. Australia may not open broder for whole 2021 year to prevent new strain of COVID19 called B.1.1.7, which can affect on cash flow at Australia. Finally Japan will start a big project of vaccination at end of February which can gave a huge boost to Japanese Jen, but at the moment they have problem with the project of vaccination. Last survey showed that Over 80% — or 38 of the 47 prefectural capitals — have raised concerns about whether they have enough doctors and nurses to vaccinate residents against the coronavirus as the nation prepares to start inoculations in late February, according to a Kyodo News survey. My opinion that they will resolve that problem quickly because they are Japan, best organized country in whole world. From tehnical point of view we can see forming a LL and LH at 4h time frame and at 1 day time frame. Downtrend started at price of 80.055 where price multiple times tested resistance line. If you like to trade with moving averages it is very good signal to sell because EMA21,EMA50 and EMA200 are above the price. We have a bearish divergence which a mark on the Stohastic is also good signal to entry. So where to enter to a trade. My preference is to wait a breaking of triangle pattern and support line. First SL will be at above first HIGH or second SL will be at second HIGH. First TP will be at price of 79.537(depends on your trading style) and second one if you are looking more than one day will be at price of 78.831.
WHAT DO YOU THINK ABOUT THIS SETUP?
Please let me know in the comment section!
THANKS FOR READING!
If you have some different opinions please let me know and if you like this please hit that like button and give me support, I will appreciate every support.
Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts. The information given is not Financial advice.
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