Hello fellow market participants,
The rally in AUDJPY, owing largely to the weakness in JPY, is bending! Some traders have been waiting on the sidelines for the rally to get exhausted so they could open shorts. It appears that time has arrived.
What is likely to happen is a long-term bearish move but conservativism about profit targets helps at the beginning of a trend reversal.
Trade well and take care.
The rally in AUDJPY, owing largely to the weakness in JPY, is bending! Some traders have been waiting on the sidelines for the rally to get exhausted so they could open shorts. It appears that time has arrived.
What is likely to happen is a long-term bearish move but conservativism about profit targets helps at the beginning of a trend reversal.
Trade well and take care.