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