In this video, the Trader Guy looks at the currency pairs, USD/JPY and AUD/USD for the June 28th session.
USD/JPY — We actually did not do much during the day and as it may surprise some of you, but it does not surprise me due to the fact that the Bank of Japan has recently stated that they are paying attention to the currency markets. I believe that the 100.00 level down here is significant and that is more or less the line in the sand. So, I expect this market to simply grind sideways in this general situation.
AUD/USD — The Aussie fell, gapped lower at the open and then continued to fall testing basically the 0.7300 level. With this, if we can break down below there, it is likely that the market will continue down to the 0.7150 level. I think short-term rallies offer selling opportunities in this risk-off environment. It makes sense that the money flows into the dollar away from riskier currencies such as the Aussie.
© Prabhu for Forex Videos, 2016. |
Permalink |
No comment |
Add to
del.icio.us
Post tags: AUD/USD, technical analysis, USD/JPY
Feed enhanced by Better Feed from Ozh
Disclaimer: Please note all prices are for information only, they should not be relied upon for accuracy or trading. All prices quotes are based on CFD prices and are similar though not always identical to real exchange prices. STOCKTRKR or anybody connected with STOCKTRKR will not accept any liability for loss or damage arising from use of any information/commentary/charts or articles which is provided 'as is' for educational purposes only, nothing contained on this website should be considered as investment advice - please seek proper investment advice from registered financial broker or institution if you wish to trade on global markets and ensure you are familiar with the risks.
