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Trading Outlook; AUD/JPY

Posted On 10 Nov 2014
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Originally Updated: 06:10am

Currency Pair: AUD/JPY

Sentiment: Bullish

Market focus:

In today’s trade set up we will be focussing on short term buying opportunities on the AUD/JPY.

Fundamentals:

The AUD was propped up overnight after the trade surplus in China grew in October to $45.4 billion, beating economists estimate’s of $42 billion. This coupled with BOJ Governor Kuroda saying last week he saw no limit to what steps the central bank could take in its goal to achieve their target inflation rate of 2% leads us to look for buying opportunities on the AUD/JPY today.

Technicals:

We have a nice confluence zone at 98.15-98.00. This should offer short term support for any pullback.

Stop loss could be placed at 97.75

Take profit target: 98.75

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Source:: Trading Outlook; AUD/JPY

About the Author
Jarratt Davis is the world’s ranked #2 (2008-2013) Forex Trader by Barclays FX Hedge Index, following years of mastering his art as a self employed trader Jarratt has now entered the field of education and delivers the most robust Forex education package on the market. Jarratt’s mentorship is one of the only programs on the market that is conducted by a verified professional trader. Forex Alchemy readers can get the FREE mini course where Jarratt gives away some of his secrets to success by Clicking Here... [space height="20"] [social type="facebook"]www.facebook.com/JarrattDavisForex/[/social] [social type="twitter"]https://twitter.com/jarrattdavis[/social] [social type="google-plus"]https://plus.google.com/+JarrattdavisForexTrader/[/social] [social type="youtube"]https://www.youtube.com/user/JarrattDavisForex[/social]

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