Acc Risk: 0.45%
Stop: 85.55 (29 pips)
Target: 83.91 (4h100, 134 pips, 4.6RR)
Attempts: Maybe one more?
I’m getting a few divergences setting up against the Yen. The most interesting one to me is actually the EURJPY but it hasn’t formed yet, but it had a hell of a good run and is now forming (although not yet locked in) a double divergence on the daily chart and depending on how this week ends a divergence on the weekly too.
So I may be in a little early on this AUDJPY short (4h & 1h div), but I have a similar set up on CADJPY (4h & 1h div) and USDJPY (4h div) is at the top of a daily trend channel.
Here’s the relevant charts
AUDJPY 1H Chart – trade chart
AUDJPY 4H Chart
AUDJPY Daily Chart
Just overshot the trend channel.
AUDJPY Weekly Chart
Close to a touch on the w500. Am I too early on this trade?
AUDUSD 4H Chart
I just noticed the price action here, looks quite bearish. A number of shooting stars? This is what got me to take the divergence on the Aussie now.
Update – stopped out same day
Looks like I was too early, USDJPY has paused at the trendline but not sold off much, AUDJPY is moving on higher and so is the CADJPY. Given that these markets were close but not hitting their resistance zones perhaps it was too early to get excited? Not sure – there was a fair amount of space on both markets.