AUDJPY: Fundamental Short, Awaiting Technical Confirmation

AUDJPY: Fundamental Short, Awaiting Technical Confirmation

The Economic-Fundamentals:
After reading at the central bank of Australia's official press releases, their Minutes and Monetary Policies, I have come to the conclusion that Australia's central bank is dovish. At the same time, the Japanese central bank seems to have become a little bit hawkish in sentiment in reading their statements.

So, I will combine these two and go to the charts.

Technical:
With a real picture in mind, I turn to the chart. It seems that the monthly chart price has rejected a previous resistance level that has acted as an important key level since 2008.

So, from henceforth, I will be looking for opportunities to short AUDJPY on a smaller time frame; that is, if I see an entry.

交易开始:

Officially in the trade. Going for a few lunch pips and a trailing stop is in.

评论:

Sentiment for the Yen is hawkish, but after reading their monetary policy during the holiday, it is neutral negative. So, while there is a divergence between the two countries' sentiment, the policies are fairly close without a divergence; hence, this trading opportunity becomes a fading reality.

I will keep technical trades small and will not post them here often; esp. before I see Trump in office.