JPY Short: Still The Only Game In Town
Thurs 15th June 2023 : Daily Currency Strength Analysis
Today we’re looking at Trading Setups in:
- AUDJPY (Primary Focus Pair)
- AUDCHF (Covered In Video)
- GBPJPY (Covered In Video)
- GBPCHF (Covered In Video
Primary Focus Pair: Trade Plan & Details
| AUDJPY Long | Price | Pips +/- | R/R (Max/Min) |
|---|---|---|---|
| Entry Price | 95.30 | ||
| Stop Loss (Min) | 94.20 | -110 Pips | 1: 2.9 |
| Stop Loss (Max) | |||
| Profit 1 | 98.50 | +320 Pips | |
| Profit 2 |
Details:
Our live forex strength vs weakness tables still points to AUDJPY as the forex pair to watch.
This pair appeared on our tables on Friday 2nd June.
Since then the price has rallied over 380+ pips breaking through multiple resistance levels.
Most recently price has traded through 95.00 – 95.50 resistance highs showing us that price could continue higher.
On September 13th 2022 price formed a high around 98.50, this could be the target for buyers involved in AUDJPY.
Traders looking to get long could wait for price to retest an area of support such as the previous resistance at 95.00 or the hourly highs at 95.30.
Technical Observations:
- AUD is S1 and JPY is W1 on our day traders tables.
- Price has broken through key resistance at 95.00.
- AUDJPY could continue to 98.50.
- Buyers could look to target this resistance levels.
Todays 9am (BST) Forex Strength Vs Weakness Tables:
