AUD,NZD/JPY crosses/Trade Ideas

Yen crosses still moving higher; AUD/JPY leading the way

I think today’s action in the FX market will turn out to be a pure Yen-crosses move. Firstly we’ve seen USD/JPY recover by 150 pips from overnight lows and later I’d expect the EUR/USD and cable to recover any lost ground.

AUD/USD is showing the way after breaking above its short-term bearish trendline and I would buy any intraday dips now back towards .9650 looking for a retest of .9750.

  1. Can i ask you a question about the USD / CHF? I have a entry point average of 0.92.
    I had intend to follow your suggestion of closing half the position at 0.97, but I did not. A psychologic mistake. Now approaching those levels, do you think that remains a good ideia to close half of the position?

  2. Personally don’t like the idea Yue, but wud prefer USD/JPY instead of AUD/JPY. Wait for top to form on 15 min charts before entering. Risk-reward with 50 pip stop isn’t very good imho so wud prefer to sell near 10250 with 35 pip stop looking for 10185. Just my view.

  3. Hi Antonio, well done indeed, and yes I still think its a good idea to book 1/2 profits at this level. The Nikkei still looks prone to big sell-offs and if we get another tomorrow then USD/JPY will crash again and drag USD/CHF lower. Overall 95/98 holding range and nobody ever went broke taking profits 🙂

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