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AUDJpy moving down in extended bearish weekly channel

AudJpy is in a weekly bearish channel and moving towards lower trendline
On the weekly chart we can see the bearish channel:
Price is moving down now, and shows a strong bearish weekly candle
I expect a lower price in AudJpy next month
On the daily chart we can figure out when the downside might hold:
A double top has formed on the daily chart indicating a high is in place
Price of the pair has broken below the rising trendline, and below SMA's
MACD and Stoch are both bearish - I expect a sharp …
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AdamFx42 avatar

Pair is slowly moving down towards projected target - 61.8% fibonacci expansion level

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Strong US data and subsequent higher UsdJpy have sent AudJpy back up too 77.5 area, will have to see whether Usd weakness (or Jpy strength) returns

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AdamFx42 15 Sie

No change yet

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AdamFx42 21 Sie

Price moving down slowly now - need more UsdJpy weakness to reach target, I guess

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GBP/AUD to break out of bearish channel

Gbp/Aud is looking strong and ready for a next leg higher
This next leg will bring it above the upper border of a bearish channel
as we can see on the weekly chart:
Gbp/Aud weekly chart
The last weekly candle is a hammer - which is a bullish candle pattern,
the MACD signal is bullish, and the RSI is bullish, too
The 61.8% fibonacci expansion target of last weekly move lies above the upper border
of the weekly bearish channel that the pair is currently in
On the daily chart I have drawn out my pr…
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The pair is finally testing the upper border of the weekly bearish channel,
a breakout could trigger a stronger move up

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GBP/AUD closed in a bearish channel

Gbp/Aud is stuck in a weekly bearish channel
and the most immediate target seems to be the breaking of 50% fibonacci retracement
of the last move up, and down to 61.8% retracement line
On the weekly chart we see the bearish channel,
and we draw the fibonacci retracement of the last move up:
Gbp/Aud weekly chart
Zooming in within the weekly downward channel and on the daily chart
we can see that the 50% fibonacci retracement is being challenged
because the upper border of the channel will push th…
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AdamFx42 29 Sie

50% fibonacci should act as resistance now - and after some retracement up we should test 61.8%

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Price holding above 61.8% weekly retracement around my predicted target,
this was an excellent call on my part - but it went so quick;
I do not know if price will remain bouncing between 50% and 61.8% for long

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Strong move down has broken 61.8% support
looking for retracement back up to test support - now resistance

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AdamFx42 10 Wrz

Well, what happened is that the lower border of the weekly trendline has held, and price has bounced back up - broken back above the daily 61.8% retracement level, and is holding on my target
That all in a couple of days:    wow!

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AdamFx42 11 Wrz

Now higher border of the weekly channel is being tested again - it's a roller-coaster ride!

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