AUDJPY Clarifies the Hint

Rajesh

You will need to read about it - however :

breakouts are simply the price moving out of clear range after a certain time - normally 4 weeks or 8 weeks.

So if say a currency makes a new 4 week high - then you go long. If it makes a new 4 week low - you go short.
Some people prefer a 55 day breakout (as it is more certain) - which is a new 55 day high - u go long and vice versa.
Pretty simple ? Not always - because u do get false breakouts, and only with experience will you get better at spotting them.
Suggest u google - turtle trading or break out trading - u should be able to find a free PDF (the original turtle rules) which u can go thru and test , if you believe this is what you want to try

Good Luck

T1 achieve on AUDJPY - 82.10

Looking for 83.50 but now with tighter stops.

The first breakout was a 40 day break out. Now after breaching 82.1 this has become a 60 day breakout - even more powerful.

In my opinion breakouts are the most powerful and certain indicators for a clear move, far stronger than chart patterns or candlesticks. However, each one to their own, whatever works for you.

Fundamentally, Aussie will strengthen further and watch for increased Yen weakness. I don't for a minute believe the Japanese are not concerned about a strong Yen - those brave statements coming out of Tokyo last month , are just statements - behind the scenes they will be intervening to weaken the Yen.
Watch USDJPY if it breaks above 90.50 (17 day break out) and then 92.50 (35 day breakout) - the uptrend would have started then. 87 will not happen on the yen - in my opinion - but I have been wrong a number of times.

CADJPY is also clearly off its downtrend - I am watching for a clear break of 88.35 to go long, probably 5 days away. Before that need to research any potential intervention by the Canadians.

Good Luck.

Aus consumer confidence disappointing?? Thought it was the best figure since mid 2007?? am i missing something here

Yulianis,

This may answer your question. Taken from Ashraf IMT dated October 13th 13.54.

AUDJPY STILL FAILING to regain the double top of 81.50s, now ready to take another fall below 81. Disappointing consumer confidence from Australia are weighing on AUD. Look for interim downside at 80.60.