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
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