Reserve Bank Australia ( RBA ) surprise the market by cutting the rate to 1.75% , RBA reiterate again this time an appreciating exchange rate could complicate their economic plan . It is in their interest to keep AUD low and with the continuation of Yen strengthening , there is a higher probability that AUDJPY continue sliding down.
AUDJPY at the interesting Psychological price of 80.00 area , For the Bear a rise to near 4H 21 is a good chance to continue selling. some time it go side ways for few hours then continue dropping . more conservative od shorting wait till it break down this support area and get at pullback on the shorter time frame. London Market open would give more opportunity to enter the market.
happy and safe Trading
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4 thoughts on “AUDJPY at 80.00 area ( 4 May , 2016 )”
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Thanks Dan – what are your thoughts on USDJPY and GBPJPY?
Thanks Ryan , My bias on USDJPY is gradually weaken since the big drop last week , now stuck at 4H 21. so my bias on USDJPY is up . GBPJPY If GBP continue weaken before brexit and my Yen bias is weaken , I will choose other Yen pair to trade. something strong again potential weaker Yen.
Thank you Dan this is like money in the bank!
Thank you Daniel. Can you direct me if possible to a link for the indicators and template you are using?