Trading Outlook – AUD/JPY

Posted On 26 Mar 2015

By : Jarratt Davis

Comment: 0

Tag: AUDJPY, AUDNZD

Originally updated: 08:00

Trading Bias: SHORT

Currency pair: AUD/JPY

Current Sentiment: Bearish

In today’s trading session we will be focussing on selling opportunities on the AUD/JPY.

Fundamentals:

The Yen strengthened overnight against all major currencies due to safe haven flows caused by Saudi Arabia and a coalition of regional allies, who have launched a military operation in Yemen against the Houthi rebels, who deposed the US-backed Yemeni president last month.

Elsewhere, the AUD was the session’s worst performer as markets continued to bring forward their rate cut expectations at the RBA’s April 7 th meeting, with NZD also beig dragged lower.

Technicals:

We expect this pair to fall lower during today’s session.

There is strong resistance at 94.00 should it rally that far, failing that 93.50 is noted as medium term level of resistance which could provide trading opportunities should the price pull back. Look for the price to bounce off this level if it retraces back to it.

Remember to be aware of intra-day news as this can very often change the sentiment which makes our trade weaker. Look for any news that could cause the JPY to weaken, as this would change the sentiment on this pair.

Other Market Moving News:

Looking ahead on today’s calendar we have UK Retail Sales, US Unemployment Claims and BoC’s Governor Poloz is due to speak.

BoE’s Miles believes the next move by the Bank of England will be a hike, and says it would be best to wait out recent inflation figures instead of easing monetary policy. Also, WTI crude futures moved higher overnight, gaining almost 5.6% – heading for its biggest 5 day gain since 2011, this comes after Saudi Arabia and its allies confirmed that they had started military operations against Yemen rebels.

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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]