I have a bullish bias on AUDJPY based on the following factors:
- Seasonality - AUDJPY have a probability to remain bullish towards end of Jul, early Aug
- COT report:
- For AUD, since start of Jun, non-commercial positions on the long side have remain unchanged but on the short side have significantly increased
- For JPY, since start of Jun, non-commercial positions on the long side have decreased and shorts have increased
- Forex Fundamentals (Summary 3 Score) - AUD and JPY scores in the last few months have been decreasing
- Fundamental News - US and EU have agreed on a trade deal with 15% tariff. This is risk on indications for the global markets since it indicates certainty going forward
Technicals:
- AUDJPY - in an uptrend on 4H and D with no divergence on both timeframes. However, price is approaching a strong resistance zone/double top which is our TP target
- Seasonality - AUDJPY have a probability to remain bullish towards end of Jul, early Aug
- COT report:
- For AUD, since start of Jun, non-commercial positions on the long side have remain unchanged but on the short side have significantly increased
- For JPY, since start of Jun, non-commercial positions on the long side have decreased and shorts have increased
- Forex Fundamentals (Summary 3 Score) - AUD and JPY scores in the last few months have been decreasing
- Fundamental News - US and EU have agreed on a trade deal with 15% tariff. This is risk on indications for the global markets since it indicates certainty going forward
Technicals:
- AUDJPY - in an uptrend on 4H and D with no divergence on both timeframes. However, price is approaching a strong resistance zone/double top which is our TP target
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.