Originally Updated: 07:00GMT
Currency Pair: AUD/JPY
Sentiment: Bullish
Market focus:
In today’s trade set up we will be focussing on short term buying opportunities on the AUD/JPY.
Fundamentals:
The market remains quiet ahead of the FOMC statement later today with investors looking at a possible soft tone regarding the raising of interest rates in the U.S. anytime soon.
We are not overly eager to take any positions prior to the release expected at 6:00 pm GMT today, however one could look at a short term yield play long on the AUD/JPY looking to take advantage of the situation in Japan as BOJ Governor Kuroda maintains monetary easing targeting an inflation rate of 2 percent and interest rate differentials favour investors to buy the AUD.
Technicals:
We have a nice confluence zone at 95.10-95.00. This should offer short term support for any pullback.
Stop loss could be placed at 95.50
First take profit target: 95.65
Currency Pair: AUD/JPY
Sentiment: Bullish
Market focus:
In today’s trade set up we will be focussing on short term buying opportunities on the AUD/JPY.
Fundamentals:
The market remains quiet ahead of the FOMC statement later today with investors looking at a possible soft tone regarding the raising of interest rates in the U.S. anytime soon.
We are not overly eager to take any positions prior to the release expected at 6:00 pm GMT today, however one could look at a short term yield play long on the AUD/JPY looking to take advantage of the situation in Japan as BOJ Governor Kuroda maintains monetary easing targeting an inflation rate of 2 percent and interest rate differentials favour investors to buy the AUD.
Technicals:
We have a nice confluence zone at 95.10-95.00. This should offer short term support for any pullback.
Stop loss could be placed at 95.50
First take profit target: 95.65
At no time should anyone view the information presented anywhere on this website as advice, recommendation or proven. Everything reflected is merely opinion and may not be accurate. The purpose of the site is to express the opinions and views of Jarratt Davis. There is no intention to offer specific help, advice or suggestions to anyone reading any of the content posted here.
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