YEN BULLS TO LEAD THE PACK-AUDJPY ANALYSIS FOR 24.10.2017
Hello guys,
Strong bearish engulfing pattern is in place after two previous attempts of AUD appreciation and close above 89. This move down was accompanied by a stochastic sell signal and reducing momentum both in the daily and monthly chart.
In my opinion, price will continue to trend lower despite the easing expectations which is associated with Abenomics. Political concerns will also affect and strengthen the Yen as a safe haven currency.
Far from that, we watch if the 10 year treasury yields will break above 2.4%. If it stays suppressed, then its going to be hard for the USD to stay above 115.
Read more here: tinyurl.com/audjpyanalysis
Strong bearish engulfing pattern is in place after two previous attempts of AUD appreciation and close above 89. This move down was accompanied by a stochastic sell signal and reducing momentum both in the daily and monthly chart.
In my opinion, price will continue to trend lower despite the easing expectations which is associated with Abenomics. Political concerns will also affect and strengthen the Yen as a safe haven currency.
Far from that, we watch if the 10 year treasury yields will break above 2.4%. If it stays suppressed, then its going to be hard for the USD to stay above 115.
Read more here: tinyurl.com/audjpyanalysis
Comment:
Move stop loss to break even and hold this for a very VERY long TIME :)