July 26, 2018 08:10:00: AUDJPY and AUDUSD trading strategies [from Mr. Tetsushi Emori’s newsletter]
From the real-time trading newsletter "Jōmori Tetsu no Real Trading Strategy" by Tetsu Jōmori, provided by GogoJungle, here is a small excerpt from this morning's dispatch. This time, please review two trading strategies: AUD/JPY and AUD/USD.
AUD/JPY is unwinding its short exposure. The likelihood of a rebound from oversold territory is increasing. If 82.50 yen can be held, I will consider going long. For now, 83.50 yen remains a heavy level, and it will be quite difficult to break through. The long-term trend is around 85.05 yen. The fair value is about 83.70 yen. If this level is not exceeded, the upside remains limited.
AUD/USD remains biased to long positions. It is moving upward, but the overbought sentiment is strengthening gradually. A break above 0.7475 would turn the trend upward. A further break above 0.7590 would make it even stronger. However, the long-term trend sits around 0.7740, which is still relatively low. The fair value is 0.7650, so it is currently undervalued. That said, the short-term trend takes precedence.
From “Jōmori Tetsu no Real Trading Strategy” (Tetsu Jōmori) quoted.
As of 11 o’clock, AUD/JPY is hovering around 82.55. Attention is on whether this level can be maintained. (Editorial department)
AUD/JPY, 1-hour chart.
