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AUDJPY Trade Setup (Nov 23)

Profile photo of YJ Baik - Forex.Today by YJ Baik - Forex.Today
2015-11-23_14-42-10-AJ2

AUDJPY pair seems to be at the interesting buy zone.

Looking at Hourly chart below, the price seems to have bounced up already, from DPP, WPP pivot cluster.

So let’s setup the Long trade.

 

2015-11-23_14-39-51-AJ1

Currently, the price is in the down Stochastic cycle on M15 chart.

Let’s wait until this down cycle is over, and starts the up cycle.

When the up cycle starts, check out the price.  If the price doesn’t make Lower Low (thus, either double bottom or Higher Low), then we can buy this pair.

2015-11-23_14-42-10-AJ2

Since the price bounced from 55EMA on Hourly chart, the target can be Prev High which is 89.00 ish.

Of course, if you are carry trader, then you don’t need the target right?

 

Hope this analysis helps you build your own.

 

 

YJ Baik – Forex.Today @ Tokyo

 

2 comments on “AUDJPY Trade Setup (Nov 23)”

  1. Profile photo of Warren
    Warren     November 23, 2015

    Do you think we might have a role reversal at the weekly pivot point 88.25?

    1. Profile photo of YJ Baik - Forex.Today
          December 2, 2015

      Hi Warren,

      Thx for your comment. and sorry I didn’t reply back. I didn’t notice your comment until now.
      I will make sure to provide the reply in a timely manner from now.

      Best
      YJ

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