TradingView
crawfordpaul
Feb 18, 2021 11:15 PM

AUDJPY Long Long

Australian Dollar/Japanese YenFXCM

Description

The Australian Dollar has seen strength against the Yen for the past couple of months and I expect it will continue moving into next week. The Aussie did well while some uncertainty loomed this week over unemployment numbers, the expectations were beat by .1% not causing much fluctuation in the pair. This isn't the main reason for this trade however, this is mostly a play on the Dollars continued recovery after also beating expectations this week. The contra-positive relationship it holds against the Yen makes this pair work in my favor as the Yen struggles against the dollar. The reason I don't just trade USDJPY or a different USD pair is to avoid too giving myself too much direct exposure to the dollar, as the Fed will be meeting next week, and I would like to protect myself from volatility.
Comments
ForecastCity_World
Great!
More