Today will be a quite day from Reserve Bank of Australia ( RBA ) and no big movement news from China . There is an interesting  research report from RBA : ” Over the past 25 years , Australian companies have been increasingly holding assets in the form of currency and deposits, or ‘cash’, rather than investing in other productive assets …. ” As a currency trader a higher percentage of company that is ” cash rich ”  imply that very good future prospect for Australia and stable and strong currency.  Technically looking at 4H chart AUDJPY give a nice pullback for further advance in the future

 

20160511  AUDJPY 4H

For the Bulls  weekly pivot ( WPP ) and Role reversal area of 79.50 area could be an opportunity to look for buying opportunity . Looking at 1 H about  London market time there could be a chance for buying , if the European trader start their work with an Buy low opportunity .

 

20160511  AUDJPY 1H

wait patiently for the European money to move the market . Happy and safe trading

 

One thought on “AUDJPY reach an interesting area ( 11 May , 2016 )”

  1. Ryan Gandalf van Jaarsveld says:

    Thanks Dan… Very interesting

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