October 03, 2018 08:43: Australian Dollar/Japanese Yen and Australian Dollar/U.S. Dollar trading strategy [From Tetsushi Emori's newsletter]
From the investment newsletter "J philosophy: 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 AUD/JPY and AUD/USD trading strategies.
AUD/JPY unwinds the long position and takes a new short position. 82.30 yen seemed to be a heavy level. The long-term trend is 84.55 yen. It is still in a downtrend. The fair value is around 83.70 yen, and if this is not exceeded, the situation will continue to have difficulty rising.
AUD/USD is taken as a new short position. It has been sold off quite a bit, but we will wait for another decline. We will close above 0.7200. The long-term trend is 0.7680, a fairly high level. The fair value is 0.7650, and it is currently undervalued.
From “Tetsu Emori’s Real Trading Strategy” (Tetsu Emori) quoted.
Following the Reserve Bank of Australia (RBA) policy rate announcement, AUD selling has accelerated, and AUD/JPY is trading in the low 80s. Will the downtrend continue as is? (Editorial staff)
AUD/JPY, 1-hour chart.
