AUDJPY signals point lower
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.
— Edited by Gayle Bryant