AUDJPY & GBPJPY Made 700+ Pips This Week
Fri 16th June 2023 : Daily Currency Strength Analysis
Today we’re looking at Trading Setups in:
- AUDJPY (Primary Focus Pair)
- GBPJPY (Covered In Video)
- AUDUSD (Covered In Video)
- GBPUSD (Covered In Video)
Primary Focus Pair: Trade Plan & Details
| AUDJPY Long | Price | Pips +/- | R/R (Max/Min) |
|---|---|---|---|
| Entry Price | 96.72 | ||
| Stop Loss (Min) | 96.20 | -52 Pips | 1: 3.4 |
| Stop Loss (Max) | 95.72 | -100 Pips | 1: 1.78 |
| Profit 1 | 98.50 | +178 Pips | |
| Profit 2 |
Details:
AUDJPY featured at the top of the live forex strength vs weakness tables for this entire week.
Today we could be looking for another position to get long into AUDJPY.
The hourly chart is showing prices forming higher highs and higher lows.
This also holds confluence with a trendline support.
Price is trading above a 50 moving average.
Traders looking to get long, could look for entries around the trendline support or horizontal support.
Stops could be placed below the 50 moving average to add another layer of protection for the trade.
Technical Observations:
- AUD is S1 and JPY is W1 on our day traders tables.
- Price has traded through multiple resistance levels.
- Buyers could look to trade long on pullbacks.
- H1 chart shows support around 96.70.
Todays 9am (BST) Forex Strength Vs Weakness Tables:
