AUD/JPY: Possible sleeper trade – FXStreet Signals

Gonçalo Moreira, CMT Independent Analyst

Using our discretion, we intend to add to the JPY exposure another AUDJPY short trade. From a technical view, both currencies, in their indexed form, are in no-man's-land as most of the major currencies have been the past two weeks. But we do see signs of at least a short-term continuation which could put us in positive for this trade. Eventually, on a progression to profits, we would add to the position. These are the carts for the AUD and JPY separately:

On the AUDJPY it would look like an entry at market with SL at 74.20 and TP at 72.45 risking 50 pips to target 125 aprox.

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Author

Gonçalo Moreira, CMT

Independent Analyst

As a trader in the foreign exchange market since 2005, Gonçalo Moreira honed his analytic and strategic skills through the Chartered Market Technician (CMT) designation. 

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