Another leg higher on Aud/JPY
https://www.tradingview.com/x/JyCLDFDm/
Hey guys, So seems the prediction was right and the fed didn't say anything the market wasn't already pricing in so the market is going bullish. As
people deploy there USD commodity prices will rise like silver see my update chart idea later today one that. This gives strength to the AUD above nearly all currencies usually see best performance against JPY as there are not as commodity driven. Following up on my last trade on this pair we had a great trading setup breaking the resistance line and retest giving a great entry with a tight stoploss. I see this being the Christmas rally so it will be sustained for the rest of December into Jan so it seems reasonable that we test the recent highs at 85.20 or roughly 4.40% so that's my target. We do have a resistance line with the 150 EMA coming into play which could dampen the speed of this rally but could also be a great entry point or scaling more in if we break and retest.
Please follow for more trading ideas and to keep up to date with current market trends
Hey guys, So seems the prediction was right and the fed didn't say anything the market wasn't already pricing in so the market is going bullish. As
people deploy there USD commodity prices will rise like silver see my update chart idea later today one that. This gives strength to the AUD above nearly all currencies usually see best performance against JPY as there are not as commodity driven. Following up on my last trade on this pair we had a great trading setup breaking the resistance line and retest giving a great entry with a tight stoploss. I see this being the Christmas rally so it will be sustained for the rest of December into Jan so it seems reasonable that we test the recent highs at 85.20 or roughly 4.40% so that's my target. We do have a resistance line with the 150 EMA coming into play which could dampen the speed of this rally but could also be a great entry point or scaling more in if we break and retest.
Please follow for more trading ideas and to keep up to date with current market trends
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