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[May 15, 2019] Position - AUD/JPY

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Published: 15 May 2019 › Updated: 15 May 2019[May 15, 2019] Position - AUD/JPY

[May 15, 2019] Position - AUD/JPY

This post is to highlight a AUD/JPY trade in progress. Price action obtained via GoMarkets.

Position

ItemDescription
PositionLong @ 79.63, 77.175
StatusFilled
TimelineT3
Confidence of the trade60%
Initial Target78.xx (descending 55MA, 110MA)

T1 - 0 - 2 Weeks | T2 - 2 weeks - 6 months | T3 - 6 months to 3 years

Technical Analysis


Price Obtained by GoMarkets

US-China trade war escalates sending shockwaves through all markets, triggering a risk off mood for now. As JPY is safe haven, AUD/JPY suffers more relatively.

Coupled with upcoming Australia election this Saturday, a strong bounce likely won't happen this week. However if and when it stabilizes, the bounce should be strong and swift with the support of the 2nd leg, back towards the MAs. Escaping breakeven and or with profits should still be in the picture.

Disclaimer

While we believe in collaboration and working towards a common goal as good thing, it has in the past affected the way we trade so to keep this as consistent and drama free, we will not be replying to comments most of the time to keep this approach as streamlined as possible. You'll certainly see us making comments and upvoting other amazing posts though!

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