AUDJPY | COULD BE A GOOD REVERSAL BUY?
Hey Traders!
AUDJPY - although its definitely trending to the downside, I feel we might have a push to the upside due to it sitting on 50 daily moving average, while also sitting on a strong monthly support pivot point.
I highly doubt its going to break it easily and this makes for a great trading opportunity, AUD is currently being bought by hedge funds while jpy is being sold off.
Since we are going against the trend, your risk management plan should be tight and a lower lot size is recommended.
AUDJPY - although its definitely trending to the downside, I feel we might have a push to the upside due to it sitting on 50 daily moving average, while also sitting on a strong monthly support pivot point.
I highly doubt its going to break it easily and this makes for a great trading opportunity, AUD is currently being bought by hedge funds while jpy is being sold off.
Since we are going against the trend, your risk management plan should be tight and a lower lot size is recommended.