Today is a quite day in term of news either from Bank of Japan ( BOJ ) or Reserve Bank of Australia ( RBA ) . The Commitment of traders report  ( COT ) indicates there is less buyer for Australian dollar in this 2 weeks , it has drop more than 500 pips and YEN also weaken significantly so this 2 weak  currency produce AUDJPY that is ranges bound results , It has about 200 pips of weekly range and average daily range of about 1oo pips. Trade plan is to make an average of at least 50pips/day  on this range pair.

 

20160516  AUDJPY  day

 

Looking at daily the trend is down  The Bears will be interested to sell  at near hourly 21 and Daily pivot DPP about 79.25 area  or conservatively wait till London money come into the market to sell at this area but by then the stochastic probably in the more favorable over bought area .

 

20160516  AUDJPY  1HA

For the bulls a nice pull back to the daily M2 + Psychological   79 area will be buying zone. weekly M2 to M4 about 81 , a nice 300 pips ranges.

Happy and safe trading

 

 

One thought on “AUDJPY week 21 Trade Plan ( 16 May , 2016 )”

  1. Ben Leung says:

    Awesome. AUDUSD has also rebounded back to 0.73 zone.

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