APosner

$AUDJPY "Flag" coming to an end

Short
FX:AUDJPY   Australian Dollar / Japanese Yen
81 views
3
From a larger time frame perspective the AUD has been falling against the JPY since 11/24. There are a variety of fundamental elements that caused the JPY weakness to pause including falling commodity prices, a failure of the JCB to continue weakening the Yen, and growing concern about an economic slowdown in China especially in real estate.

Looking at the chart the Aussie had a chance to rally up against the JPY but that rally was short-lived and price has been selling again. Once this short term “flag” has completed I expect the AUD/JPY pair to resume its downtrend and ultimately return the lows of 10/2014 in the 92 price area.

Comments

I exited the trade for even since the premise of the trade ended. Watching it on larger time frames as well.
Reply
A spike up just occured due to positive news from down under. What are your thoughts after that spike up?
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out