AUD/JPY - Positive Break of Key Averages to Continue?

Alan Collins 3cAnalysis

Two unchanged weekly closes in a row with prices oscillating around their 50 day average rate have left this week’s signals mixed and neutral. Monday’s trading has done little to change this, as while a small sequence of higher daily lows & highs was extended, the market has traded mainly sideways for a modest up-day. It’s enough to leave signals with a very cautiously bullish bias though and the outlook for Tuesday is therefore to buy on the open and then at 75.76, this week’s opening trade with a stop loss at 75.53, Friday’s base. Targets are to 76.24, July’s high, 76.41, the 8 week top and 77.03, the 9 week high trade.

Above Key Averages

Author

Alan Collins

3cAnalysis

Alan has been involved in the financial markets for more than 30-years.

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