Potential swing trade long on AUD/JPY

2023年2月1日

AUD/JPY finally broke above trend resistance, the 200-day EMA and pivotal zone of 90.9 – 91.5. The 20-day EMA also provided support for two bullish hammers, which could mark the end of a shallow retracement from its breakout move higher. The bias remains bearish above this week’s lows and for a move towards the high around 93.

2023年2月6日

交易结束：到达止损

This sadly did not work out with prices moving below the support zone.

However, with the BOJ on track to put another uber-dove at the helm when Kuroda leaves, the potential for a period of yen weakness is apparent. And if the RBA are to surprise with a 50bp hike today, AUD/JPY could potentially rally.