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Audjpy down break coming shortly


Guest Mthivele

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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.

AUDJPY-Daily.thumb.png.75826f28ca8b28d0e2f6449eef9a7292.png

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