AUDJPY: Fundamental Short, Awaiting Technical Confirmation
The Economic-Fundamentals:
After reading at the central bank of Australia's official press releases, their Minutes and Monetary Policies, I have come to the conclusion that Australia's central bank is dovish. At the same time, the Japanese central bank seems to have become a little bit hawkish in sentiment in reading their statements.
So, I will combine these two and go to the charts.
Technical:
With a real picture in mind, I turn to the chart. It seems that the monthly chart price has rejected a previous resistance level that has acted as an important key level since 2008.
So, from henceforth, I will be looking for opportunities to short AUDJPY on a smaller time frame; that is, if I see an entry.
The Economic-Fundamentals:
After reading at the central bank of Australia's official press releases, their Minutes and Monetary Policies, I have come to the conclusion that Australia's central bank is dovish. At the same time, the Japanese central bank seems to have become a little bit hawkish in sentiment in reading their statements.
So, I will combine these two and go to the charts.
Technical:
With a real picture in mind, I turn to the chart. It seems that the monthly chart price has rejected a previous resistance level that has acted as an important key level since 2008.
So, from henceforth, I will be looking for opportunities to short AUDJPY on a smaller time frame; that is, if I see an entry.
Trade active:
Officially in the trade. Going for a few lunch pips and a trailing stop is in.
Capturing the swings of the stock market & currency market. It's a dirty job and equity/currency traders must do it.
I will keep technical trades small and will not post them here often; esp. before I see Trump in office.