AUD/JPY catching the bid?

Given the current condition of uncertainity-characterectised market sentiment due to the ongoing trade war, price of financial instruments are currently choppy. Aside the choppiness the Aussie (AUD) have been in a selloff following growing weakening conditions in the Australian economy. However, this dip is seen to be “contained” and could be likened to increase in price valuation in copper – AUD is commodity linked.

Technically, traders can look to buy the AUD/JPY as Japanese is seen to pick up its uber-dovish theme (see m15 Chart).

Fig 1: 15-Minute AUD/JPY Chart

AUD/JPY

Buy @ current market price (instant execution)

Stop: 81.785

Limit: 82.535

 

Alternatively, every potential move in the market is still currently in the shadow of the trade war and for a commodity-linked economy like that of Australia, impact would be quite immense if things escalates.

Traders are always advised to use a stop loss!

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