SE1 Capital Markets

Evolving to Consistency

Browsing Posts tagged AUD/JPY

AUD/JPY, July 21

No comments

AUD/JPY, July 21, 8am UK Time

The pair broke outside the upper range of my trading zone, re-traced to the last Fib level during Asia. This has potential to go up to the 78 level. I won’t be trading it today.

AUD/JPY, July 21, 7am UK Time

AUD/JPY, July 21, 7am UK Time

AUD/JPY, July 20

No comments

AUD/JPY, July 20

Asia was active, as called by @tradercisco, and we finally we broke out of yesterday’s range to the upside and quickly moved to the next Fibo level, which also marks the upper end of a long term channel (marked in red). Like yesterday, this zone is very congested (Daily R2 at 76.4483, 38% Fib at 76.50, end of the range at 76.54 at 100% of the Fib at 76.77. Don’t buy in this zone before it clearly breaks.

AUD/JPY, July 20, 9pm UK Time

What a day. AUD/JPY made its usual move back and finally up to the next level, blasting quickly through the 77 level. I am seriously considering trading higher time frames and wider stops with volatile pairs like AUD/JPY. I got caught up a few times in the random oscillations and didn’t make the obvious pips. Note to myself: Only trade Yen pairs at extreme levels.

AUD/JPY, July 20, 9pm UK Time

AUD/JPY, July 20, 9pm UK Time

AUD/JPY, July 19

No comments

AUD/JPY, July 19, 8am UK Time, H1

The pair is trading in a 600 pip wide range from 73 up to 79, currently almost in the middle just above 75. Two decision zones, based on daily and H1 Fibos will determine direction for today. Trade what you see.

AUD/JPY, July 19, 8am UK Time

AUD/JPY, July 19, 8am UK Time

 AUD/JPY, July 19, 10pm UK time

RANGE TRADING. The critical zones held all day and AUD/JPY has still not decided where to go.

AUD/JPY, July 19, 10pm

AUD/JPY, July 19, 10pm

AUD/JPY, July 14

No comments

AUD/JPY, July 14, M30, 8am UK Time

Ok, today a different pair. Why? AUD has been going strong for the last 6 days and JPY was weak. Without any Australian news on the horizon to continue the trend and the recent pullback we have seen in JPY, this could either exhaust its up-trend, or go into correction mode.

The first Fib you see is based on the overall up move, marking the top of the range, roughly at Daily R1 at 78.9. The second Fib is based on the up move that started yesterday from 76.80 to the current high of 78.9. Right now we pull back in a downward channel (green). I am looking for breaks and re-tests of the channel and a potential break of the 61.8 Fibo level at about 78.

AUD/JPY July 14, 8am UK Time

AUD/JPY July 14, 8am UK Time

 AUD/JPY, July 14, M30, 3 pm UK Time

AUD/JPY behaved beautifully today. My bias was to look for shorts after a six day period of strength and after an initial breakout to the upside of the channel (green), it dropped like a rock just before forming a complete double top, re-tested the downward channel as resistance and pushed down to the critical 61% Fibo line which it evenually took out to go quickly to the 50% and almost all the way to the 38% Fibo level. The last candle was the re-test of the 50% level. It is pretty likely to catch the 38% level at 77.59.

I traded successfully the breakout of the channel to the 78.70 level and two shorts afterwards. The biggest loser occured through the announcment of the US retail data.

Lesson learned: Again, believe in your analysis, and don’t trade 5 minutes before and after major news releases.

AUD/JPY, July 14, 3pm UK Time

AUD/JPY, July 14, 3pm UK Time