Audjpy down break coming shortly

[Guest Mthivele]

[Mercury]

Can't quite see the time frame on the chart pic @Mthivele, might be worth trying to post a saved chart rather than a pic.  As you suggesting a break down or up here?  Are you suggesting s short term move or a longer term breakout?

This isn't a market I look at and there is insufficient historic data for me to get a long term view here but from the daily chart it looks like we could be seeing a V bottom that, if it breaks above the top of the V, would be a good Long.  This is consistent with AUDUSD, where I am anticipating a similar situation.  That said, the Yen looks like it may stage a rally vs USD (down on USDJPY) and that is my long term prognosis BUT we could see a medium term rally in USDJPY if stocks rally.  All in all not a clear picture to me but as I said I don't look at AUDJPY.  Thanks for posting the idea though, let's see how it plays out.

[Caseynotes]

SSI data just popped up for this one makes interesting reading;

[Mercury]

How did you get on with this @Mthivele?  Looks to me like it was indeed a V bottom.  Now a small 1-2 retrace is out of the way the next question is where the wave 3 will reach.  This looks to be based on AUD strength vs USD right now rather than anything to do with the Yen, which is in consolidation.