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DAY 8 - AUDJPY & AUDUSD ANALYSIS

Some important news event are lined up for next week which could set the tone for future direction on AUDUSD and AUDJPY.
On Thursday Australian Employment numbers are scheduled to come out and expectations are for about 18K new hiring which could be positive for Aussie Dollar.
However, traders would be eagerly waiting for 1st quarter GDP growth plus Industrial Production number from China which is due on Friday. Majority of analysts expect a 6.7% growth and industrial production numbers to inch …
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DAY 1 - AUDJPY ANALYSIS

We have seen a huge sell off on AUDJPY in December and the pair dropped around 600 pips in first couple of weeks of December and since then price have retraced around 300 pips which is about 50% retracement of bearish impulsive move.
The yearly closing price on this pair is 97.75 which is close to an important zone 98.00 to 98.65 which was an important decision zone in past both for sellers and buyers. As such I would be looking for price action on hourly charts to anticipate next move on this p…
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DAY 29 - AUDJPY ANALYSIS

AUDJPY is approaching an important zone between 98.75to 99.25. This zone have attracted both buyers and sellers in past and as such I would be observing H1 and lower time frames price action to enter trade. At this point I have no bias as to which way price will proceed after hitting this zone, so will consider both short and long based on price reaction.
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DAY 10 - AUDUSD & AUDJPY Trades

Volatility on majority of pairs are in full flow and there were lots of intra day trading opportunities today. I placed almost 10 pending orders, out of which some orders were missed by few pips and only couple got filled and both ended up hitting my take profit. Still trying to build up my equity to a decent level and aiming for top 20.
It is only the possibility of loss that creates the opportunity for the winners that eventually occur

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AUDJPY PRICE FORECAST FOR AUGUST 1ST 2014

AUDJPY: My technical analysis is based on Supply / Demand and Support / Resistance.
1) Weekly Chart
2) Daily Chart
Price Target 91.50 for 1st August 2014

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