AUDJPY: Simple Price Action short
Fundamental:
RBA maintain it's rate at 1.5%, still on holding policy. Watch for monetary policy in coming week
BOJ rate statement this coming week.
JPN manufacturing data was strong last week
Technical:
Price bounce below strong weekly level and forming inside bar last Friday
This gives very small risk and huge downside rewards for this trade.
However, if BOJ rate continues to below expectation this trade might goes south.
RBA maintain it's rate at 1.5%, still on holding policy. Watch for monetary policy in coming week
BOJ rate statement this coming week.
JPN manufacturing data was strong last week
Technical:
Price bounce below strong weekly level and forming inside bar last Friday
This gives very small risk and huge downside rewards for this trade.
However, if BOJ rate continues to below expectation this trade might goes south.
Trade closed: stop reached:
Pin Bar signal is too weak