AUDJPY is up again visiting a critical zone where the next move can change the direction of the price or just continue higher.
I would like to watch this trade closely, either to look for pullbacks to sell or go long if the sell is stopped out.
The price is in a rising wedge so a breakout to the upside might happen this time or next time it goes up to current levels. The 88.00 area have been used as support and resistance in the past so it's a massive area to break through, but as times has shown it's not impossible.
If it's rejected the price might not travel far before it will pick up the uptrend. A short in my eyes is a counter trend trade and quiet dangerous if you are not watching your trades closely and keep good money management.
Lets see what happens and I will look for pullbacks to trade.
High impact news for the week to come:
Thursday, July 20, 2017
AUD Employment Change (JUN)
AUD Unemployment Rate (JUN)
JPY BOJ 10-Yr Yield Target (JUL 20)
JPY BOJ Monetary Policy Statement
JPY BOJ Outlook Report
JPY BOJ Policy Balance Rate (JUL 20)
JPY BOJ Kuroda speaks at press conference after MPM
I would like to watch this trade closely, either to look for pullbacks to sell or go long if the sell is stopped out.
The price is in a rising wedge so a breakout to the upside might happen this time or next time it goes up to current levels. The 88.00 area have been used as support and resistance in the past so it's a massive area to break through, but as times has shown it's not impossible.
If it's rejected the price might not travel far before it will pick up the uptrend. A short in my eyes is a counter trend trade and quiet dangerous if you are not watching your trades closely and keep good money management.
Lets see what happens and I will look for pullbacks to trade.
High impact news for the week to come:
Thursday, July 20, 2017
AUD Employment Change (JUN)
AUD Unemployment Rate (JUN)
JPY BOJ 10-Yr Yield Target (JUL 20)
JPY BOJ Monetary Policy Statement
JPY BOJ Outlook Report
JPY BOJ Policy Balance Rate (JUL 20)
JPY BOJ Kuroda speaks at press conference after MPM