Hi guys, we got those big moves that we expected yesterday/today. Now things are being to over extend and we should be able to fade some of these moves.
The JPY is extremely over sold and in need of a consolidation. I would expect one more push from the JPY before a turn, but a turn is coming.
The AUD is very strong and if we get another push up, we should see a turn from the AUD as well. Keep an eye on JPY and AUD pairs for a consolidation during the next couple of trading sessions. I am currently short the AUDJPY @ 86.523. I may add to this position if it pushes up, but I'll keep a tight stop on the trade.
This is not investment advice, just my opinion(s). Please trade accordingly.
Trade safe and keep an eye on news.
The JPY is extremely over sold and in need of a consolidation. I would expect one more push from the JPY before a turn, but a turn is coming.
The AUD is very strong and if we get another push up, we should see a turn from the AUD as well. Keep an eye on JPY and AUD pairs for a consolidation during the next couple of trading sessions. I am currently short the AUDJPY @ 86.523. I may add to this position if it pushes up, but I'll keep a tight stop on the trade.
This is not investment advice, just my opinion(s). Please trade accordingly.
Trade safe and keep an eye on news.
Note
4xglobal users: here is a detailed walk-thru on the AUDJPY trade4xglobal.com/forex-super-tool-catching-a-long-term-reversal/
Note
All of the currencies are gathered between the 40-60 levels. We should see some nice moves during the EURO session.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.