Day trading strategies on currency pair AUDJPY 17-08-2016 by AzaForex forex broker, keep the profits rolling in the foreign exchange market with these tips

How to increase your foreign exchange trading profits.
Forex market is quiet now. All trend movement were finished and we can see widespread correction. Forex brokers faced decrease in the activity of both traders in the foreign exchange market and the precious metals market with quotes of Gold and Silver. It is not clear where the currency rates and raw materials shall move. The only currency that is now in the downtrend peak is the Australian dollar. Let's take a closer look at the chart of the currency. All currency pairs which is traded on the Foreign Exchange with Australian dollar are in the move. Clearly, something is wrong with the economy of Australia. Although market news on the employment and unemployment levels are expected only tomorrow , the currency is not waiting and is falling down. It's time to open a short position and leave it until tomorrow. If the news will be negative, it will only accelerate the downward trend in the forex market. We trade in a classic case breaking through levels, which, in recent years, gave us good profit. Therefore, we will not reinvent the wheel, and at a break-through level of support enter into the market.

The price is below a simple moving average 200 MA and 20 MA indicating bearish trend.
The MACD trend indicator is below zero level now, indicating bearish movement.

If the support level is broken you can use the following recommendation:
•    Chart timeframe: H4
•    The trade recommendation: Sell
•    The level of entry into short position: 76.45
•    The level of profit and close the position: 75.00 (145 pips)


Forex currency pair GBPUSD
Possible bearish movement in the breakdown of the support level 1.2980

Forex currency pair EURUSD 
Possible bullish movement in the breakout of the resistance level 1.1322

GOLD
Possible bullish movement in the breakout of the resistance level 1332
 
Forex currency pair USDJPY
Possible bearish movement in the breakdown of the support level 100.60