Originally updated: 07:30am
Currency Pair: AUD/JPY
Sentiment: Bearish
Market focus:
In today’s trade set up we will be focussing on short term selling opportunities on the AUD/JPY.
Fundamentals:
We have seen a risk averse market environment over the last two days as investors moved flows into Yen as Japanese stocks tumbled. Still looking at the AUD with the RBA potentially looking to cut interest rates next year we would be looking for selling the AUD/JPY today.
Technicals:
I expect this pair to continue its down move during the session, eventually breaking 98.00. If the market does retrace back up then there is a nice confluence zone of resistance that traders could use as a reference to sell from again.
The confluence zone is at 99.95-100.10
Stop loss could be placed at 100.60
Currency Pair: AUD/JPY
Sentiment: Bearish
Market focus:
In today’s trade set up we will be focussing on short term selling opportunities on the AUD/JPY.
Fundamentals:
We have seen a risk averse market environment over the last two days as investors moved flows into Yen as Japanese stocks tumbled. Still looking at the AUD with the RBA potentially looking to cut interest rates next year we would be looking for selling the AUD/JPY today.
Technicals:
I expect this pair to continue its down move during the session, eventually breaking 98.00. If the market does retrace back up then there is a nice confluence zone of resistance that traders could use as a reference to sell from again.
The confluence zone is at 99.95-100.10
Stop loss could be placed at 100.60
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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