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Yen Crosses did bounce following the suit of global stock market rally. Aud/jpy also bounced to the level predicted yesterday at 82.60.It is wise to hold back a bit at these levels to see whether this short term bullish sentiment is holding or not. Most probable not.. Here is an hourly chart again of the bounce in Aud/JPy. Now is the ideal point to sell but a little patience is .worthwhile to see how non farm payroll affect the overall sentiment of market.
Amogh's Blog
Yen crosses continue to draw my attention with particular focus on GBP/JPY and AUD/JPY.
Yen crosses continue to draw my attention with particular focus on gbp/jpy and aud/jpy. Aud had some wild swing recently. If there is aYen crosses continue to draw my attention with particular focus on gbp/jpy and aud/jpy. Aud had some wild swing recently. If there is a bounce in Aud/JPy now it will be ideal point to sell it at around 82.60 level. Here is an hourly chart. bounce in Aud/JPy now it will be ideal point to sell it at around 82.60 level. Here is an hourly chart.
AUD/JPY short trade is hanging on
My Aud/Jpy Short trade initiated at 82.87 with stop loss at 83.50 and take profit at 82.35 is hanging on. It has survived the recent nasty bounce. I do not think it will break the resistance at 83.50. So I expect the price to fall from here towards my profit goal.
Risk is off the table for now. Yen crosses taking a big time tumble
Market sentiment is anti risk. Risk is off the table amidst the political turmoil in US. The biggest gainer is Japanese yen and so the yen crosses accross the board has tumbled big time. I have profited from short trades including Aud/Jpy, Eur/Jpy and Gbp/Jpy. Here is the chart of the Gbp/Jpy for the illustration of the tumble.
AUD/JPY short trade initiated at 83.97 with Stop loss at 85.000 exited with profit
AUD/JPY sold at 83.97 with Stop loss at 85.000 and take profit at 82.850 is exited with 113 pips profit. This trade has gone very well just according to speculation. Here is the chart for that trade.