Day trade
Trade view / 20 July 2016 at 5:55 GMT

AUDJPY signals point lower

partner and technical analyst / 3 c analysis
United Kingdom

Against a background of bearish signals on the week, Tuesday’s forecast was also negative. This has been confirmed, investors selling the cross yesterday for a loss of almost 1¼ Big Figs. The pullback has stalled, but signals now point to selling intraday rallies.

Management and risk description

Lower stop to entry if the first target is met.


Entry: sell at 80.11, Tuesday's Marabuzo line.

Stop: 80.79, this week's high.

Target: 78.85, last Wednesday's low and 78.04, the 13-day average rate.

Time horizon: today only.

AUDJPY 8 hourly - pullback to gains
AUDJPY Weekly - 4.5 year low
AUDJPY Quarterly - lower highs
 Source: all charts CQG. Create your own charts with SaxoTrader; click here to learn more 

— Edited by Gayle Bryant

For more on forex click here

Non-independent investment research disclaimer applies. Read more
20 July
Anton Bushin Anton Bushin
Hi Steve, are you in trade?
20 July
Steve Lucas Steve Lucas
No I didn't get short and cancelled at my 4pm close


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