August 22, 2018 08:16: GMT+0: AUDJPY and AUDUSD trading strategy [From Mr. Tetsu Emori's newsletter]
From the investment e-newsletter "Tetsu Emori's Real Trading Strategy" by Tetsu Emori provided by GogoJungle, here is a small excerpt from this morning's issue. This time, please look at the trading strategies for AUD/JPY and AUD/USD.
AUD/JPY remains long. 81.60 JPY is a resistance. There is an overheating sense, and a pullback is possible. However, we will keep the long position until it breaks below 80.90. The long-term trend sits around 85.00, and until it surpasses this level, we can consider movement as weak. The fair value is about 83.70. If these levels are not exceeded, the situation will continue to be difficult for upward movement.
AUD/USD remains long. It has surpassed the 0.7350 resistance. However, there is an increasing sense of being overbought, so vigilance is required. The long position remains until it breaks below 0.7330. The long-term trend is around 0.7730, which is still quite low at the moment. The fair value is 0.7650, so it can be considered undervalued right now.
From “Tetsu Emori's Real Trading Strategy” (Tetsu Emori) quoted.
The Reserve Bank of Australia (RBA) released the minutes of its policy meeting held on the 7th, but there were no major changes from the summary of discussions, and there were no notable developments in price movements. (Editorial staff)
AUD/JPY, 1-hour chart.
