AUDJPY - Could The JPY Be Getting Stronger?
Analysis:
Bearish Confluence Factors
Bullish Confluence Factors
Stay Safe - The JPI Team
Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read and responded to. We any comments at all so thank you!
Disclaimer:
This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does too. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
Bearish Confluence Factors
- In a downwards trend
- Break and retest of a previous area of support for resistance
- Downwards trendline touch
- Increase of 2K short positions for the AUD
- Decrease of 12K short positions for the JPY
Bullish Confluence Factors
- AUD is the 7th strongest major currency where as the JPY is the 8th strongest major currency
Stay Safe - The JPI Team
Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read and responded to. We any comments at all so thank you!
Disclaimer:
This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does too. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
Trade active:
Our entry requirements have been met and our order has been filled. We are now short on this pair looking for the AUD to get weaker, especially after the news we have coming out soon for the AUD.
Trade closed: stop reached:
Trade Closed
(-1R) Lost
After Trade Comments:
We were expecting the AUD to have some weakness before the news coming out later for the AUD, however we didn't see this and instead we saw the opposite. The AUD often is negatively correlated to the USD and as the USD has been going down today we've seen the AUD go up .This happens sometimes in trading and you can't always be right. Lets move on and focus on looking for the next setup instead.
Stay Safe - The JPI Team
(-1R) Lost
After Trade Comments:
We were expecting the AUD to have some weakness before the news coming out later for the AUD, however we didn't see this and instead we saw the opposite. The AUD often is negatively correlated to the USD and as the USD has been going down today we've seen the AUD go up .This happens sometimes in trading and you can't always be right. Lets move on and focus on looking for the next setup instead.
Stay Safe - The JPI Team