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AUDJPY weekly chart looking for bullish setups

Looking at AUDJPY for long side trade. Reasons #1 – 3 bullish channels, #2 – new 52-week high, #3, attractive positive swap for long position.


Simple forex analysis AUDJPY

I am looking for an AUDJPY bullish setup on the weekly chart for these reasons:

  1. 3 overlapping equidistant channels all of which are rising,
  2. new 52-week high that terminates the pair’s 2015-2016 year to year decline,
  3. very attractive positive swap for a long side position.

Ideally some price reaction to supporting trend lines A. or B. Or horizontal levels based on previous highs or lows. Looks good if price stays confined to green or pink zone but not so good if it goes to the yellow zone.

AUDJPY weekly chart Dec 2014 - present

AUDJPY weekly chart Dec 2014 – present

Director, TerraSeeds Market Technician Pte Ltd. Trader, investor. @sohtionghum was picked ‘Top 70 Forex Twitter in 2015’.

“Dear reader, I do not have a financial license to give advice. I do not know you the reader. Your financial objective and risk tolerance may be different from mine. I am not responsible for any consequence of your action.

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