Sell AUD/JPY | AUD analysis

About AUD : AUD/USD clearly had shifted to bearish trend as it on Nov 14 had closed below swing low of Oct 25 on D1. It had reached FIB61.8 of whole swing up on D1/daily-time frame made between Oct 2 & Oct 31. Recent unemployment data from Australia was significantly weaker than forecast, which has acted as the main bear factor.

Besides Austrian economic data, Waning out optimism of US-China trade deal phase 1 also weighed on AUD.

About JPY: There had already been a bearish breakout of wedge in USD/JPY.

The trade:

Today's negative news of US-China trade deal worked just like a triggering factor. While USD/JPY and AUD/USD are going down together, selling AUD against JPY is very good idea. Target FIB61.8 on D1 of AUD/JPY. Set SL above the price before triggering news.


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