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Analysis and Forecasts

AUD/JPY Speculative Targets 93.50 – 97.70

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AUD/JPY Speculative BUY

Monthly Chart

AUD/JPY Monthly Chart

Weekly Chart

AUD/JPY Weekly Chart

Preference:

Long positions above 85.00 with targets 93.50 – 97.70
Bought at 88.35 S/L 84.85 (350 pips), T/P 96.00 (765 pips). Risk 1:2
Placed Buy Limit order at 85.50 S/L 84.85 (75 pips), T/P 95.00 (1050 pips). Risk 1:14

Period of Time:

3 – 9 Months

Basis:
  • Speculative idea: AUD looks oversold
  • Carry trade: positive BUY swap
  • Forming of potential “Hammer” monthly candle
  • Tripple bottom neckline touch on weekly and monthly charts
  • EMA 200 touch on weekly chart makes signal stronger (still above EMA 200)
  • Market sentiment is bearish JPY, with the CFTC reporting on July 23rd a net short JPY position of US$11 billion
  • Inflation expectations in Japan
  • Expected the JPY to weaken into year-end as it is weighed down by ongoing aggressive BOJ policy
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About Author

Hi, Friend! My name is Gran Layson. I am an experienced currency and stock trader from Europe. If you want something to be done well, do it yourself, therefore often I feel myself as “Swiss Army Knife Man”. I am the Intomillion’s website administrator, developer ... read more

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1 Comment

  1. Gran Layson on

    AUD/JPY Buy Order Closed at 95.39. Profit +703 pips. Expired time of the open position. The possible change of the dirrection.

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