|
Joined Sep 2008
|
Status: Trend rider & Big Old Boy Wannabe
|877 Posts
After the yen made new historic low and Existing Home Sales dropping +25% you can see the makerts move against the dollar, but now, after the storm calmed a little you will see that risk aversion is going to take over again, driving the yen and the aud even lower.
I see a great opportunity here to sell AUDJPY for at least 50 pips, even more.
After the yen made new historic low and Existing Home Sales dropping +25% you can see the makerts move against the dollar, but now, after the storm calmed a little you will see that risk aversion is going to take over again, driving the yen and the aud even lower.
I see a great opportunity here to sell AUDJPY for at least 50 pips, even more.
AUD/USD, very stable economy and government, depending upon commodity exports like minerals and agricultural products. Very sensitive when world economy blooms and falls.
USD/JPY, huge balance trade surplus, zero interest rate, used to be the favorite carry trade pair. Is considered safe haven by some investors.
So to me, AUD/JPY is basically a pair with a multiplied effect on risk aversion/appetite sentiments.
That's the H4 chart, showing an uptrend channel, I don't like it. The aussie doesn't want to play ball.
Ignored
Big sellers out of Tokyo on this cross the past few days.
Oz numbers took a bit of the sting out of them but they will be back.
76.20 negates.
Dlr yen below 84.10 turns bearish which shud drag cross lower.
Aud sellers above .9010
No mans here at 75.80
|
Joined Aug 2010
|
Status: "Member" lol
|242 Posts
I've been trading in and out of this since it started to roll over. Just curious if it's gonna resume its uptrend, and if so, what key area it will bounce from. But until then, the trend is my friend.
|
Joined Sep 2008
|
Status: Trend rider & Big Old Boy Wannabe
|877 Posts
Looks like a good opportunity to short the pair again. Although there are plenty of risks involved, mainly, low liquidity.
Opened short @77.32, [email protected], [email protected], TP2@TBA
Looks like a good opportunity to short the pair again. Although there are plenty of risks involved, mainly, low liquidity.
Opened short @77.32, [email protected], [email protected], TP2@TBA
Ignored
TP1 hit +50 pips, I'm closing the whole position now, it was a long trade and I lost some pips (3) having the carry against me. I'll look for new entries, although this could go lower still.
