September 05, 2018 08:05:00: AUD/JPY and AUD/USD trading strategy [From Mr. Teppei Emori's newsletter]
From the investment email newsletter “Tetsu Emori's Real Trading Strategy” by Tetsu Emori provided by GogoJungle, here is a small excerpt from this morning's distribution. This time, please take a look at the trading strategies for AUD/JPY and AUD/USD.
We will maintain a short position on AUD/JPY. It has been holding up against the fall, so if it rises above 80.15 JPY we will close the position. The long-term trend is at 85.00 JPY, and until this is surpassed, we can consider the movement weak. The fair value is around 83.70 JPY. If these levels are not exceeded, the rise will continue to be difficult.
We will maintain a short position on AUD/USD. It is becoming oversold. If it rises above 0.7205 USD we will close the position. The long-term trend is at 0.7700 USD, which is quite low. The fair value is 0.7650 USD, so it can be said to be undervalued right now.
From “Tetsu Emori's Real Trading Strategy” (Tetsu Emori) quotation.
The Reserve Bank of Australia (RBA) kept the policy rate at a record low of 1.50% at its regular Board meeting. When will the rate hikes occur? Please also pay attention to the next monetary policy announcement. (Editorial staff)
AUD/JPY, 1-hour chart.
