informedtrades
Long

Buying AUDJPY as Yen Pulls Back to Form Doji at Support

FX:AUDJPY   Australian Dollar/Japanese Yen
31 0 1
The candle hasn't quite closed yet, but I like the price action             we're seeing thus far -- especially since we're at a support level . I have a long NZDJPY             position that is currently in the money, and as we've discussed repeatedly, I think the yen is due for a large devaluation in the years to come. Is this the time? Maybe or maybe not, but I certainly think the fundamental and technical setup make it worth considering.

I'm set to go long at 96.45, with my stop at 95.85 and my target profit at 98.50 -- the recent high we have pulled back from.

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