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AUD/JPY | Sep 19, 2019

Sell at 35% of recent move down.

Target 38.2 of whole swing up on daily time-frame.

Risk: it fails if H1 candle closes above 74.3


Fundamentals: We expect the BoJ to keep its ‘QQE with yield curve control’ policy unchanged at the next monetary policy meeting ending today.

Australian Unemployment Rate came out to be 5.3% vs previous as well as forecast of 5.2%.



2 comments

2 Comments


Keon Consultancy
Keon Consultancy
Sep 19, 2019

USD/JPY and AUD/USD are more popular pairs than AUD/JPY, so I analyse these two pairs to determine trade setup on AUD/JPY.


Trend on daily/D1 time-frame of AUD/USD is shifting bearish today. All we need is to get the price closed below trend predictor.

Fib 50.0 didn't push AUD/USD to upside. No significant upward movement from this level, it shows apparent weakness in AUD.



Let's look at USD/JPY now:


Having seen significant weakness and no upward move in AUD/USD from Fib50.0, we are now targeting not only 38.2% of whole swing up on D1 of AUD/JPY but also 50% of the same.


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Keon Consultancy
Keon Consultancy
Sep 19, 2019

It seems like chance of getting our sell limit triggered is 50-50, so I entered half sell right now at 73.38

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