Real World Traders-- AUDJPY ready for a new higher high
AUD/JPY is a currency pair that represents the value of the Australian dollar in Japanese yen. There are several factors that suggest that the AUD/JPY pair is likely to rise in the near future.
First, the pair has been retesting a strong trendline of support, indicating that the market is finding buying interest at these levels. A trendline retest often signals that the market is establishing a bottom and could be poised for a bullish reversal.
Additionally, the fundamentals of both the Australian and Japanese economies are supportive of a rising AUD/JPY pair. The Australian economy has been showing signs of recovery, with positive economic data releases, including strong job growth and rising consumer confidence. On the other hand, the Japanese economy has been grappling with low inflation, which could potentially lead to more stimulus measures from the central bank, providing a tailwind for the AUD/JPY pair.
In conclusion, the combination of technical, fundamental, and momentum factors suggests that the AUD/JPY pair is poised for a rise in the near future. It is important to keep in mind, however, that forex markets can be highly volatile and subject to sudden changes, so it's always important to stay informed and have a well-thought-out risk management strategy.
First, the pair has been retesting a strong trendline of support, indicating that the market is finding buying interest at these levels. A trendline retest often signals that the market is establishing a bottom and could be poised for a bullish reversal.
Additionally, the fundamentals of both the Australian and Japanese economies are supportive of a rising AUD/JPY pair. The Australian economy has been showing signs of recovery, with positive economic data releases, including strong job growth and rising consumer confidence. On the other hand, the Japanese economy has been grappling with low inflation, which could potentially lead to more stimulus measures from the central bank, providing a tailwind for the AUD/JPY pair.
In conclusion, the combination of technical, fundamental, and momentum factors suggests that the AUD/JPY pair is poised for a rise in the near future. It is important to keep in mind, however, that forex markets can be highly volatile and subject to sudden changes, so it's always important to stay informed and have a well-thought-out risk management strategy.
Trade closed: target reached:
Closed in profit