AUD/JPY Forecast, August 20-24

Australian dollar has trouble versus weak Japanese yen

AUD/JPY closes the weak slightly positive. The AUD had trouble making and holding gains against the weak JPY.

AUD/JPY Chart

AUD/JPY Outlook

While other currencies are making sizable gains versus the Japanese yen the Australian dollar is having trouble holding onto slight gains for the week. Although this pair has been in an uptrend on both the weekly and daily charts it is showing signs of weakness now. Friday’s daily price bar closed down in a bearish engulfing pattern and this pair now provides a good hedge through selling if you are looking for the high probability buys on other JPY pairs this coming week.

Open positions for AUD/JPY
(source Oanda)AUD/JPY Open Positions

You can follow the aud/jpy forecast here  during the week.

About Jordan Above of all I am a husband, a father. I am also a trader. Here is my advice. Trade what you see NOT what you expect. Price is everything. Think like a fundamentalist; trade like a technician. No emotions. No guessing. Learn to read the charts and use awesome $ management. Work with me and I’ll show you what works: 31 Days To Profitability

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