December 03, 2018 08:36: AUD/JPY and AUD/USD trading strategy [From Tetsu Emori's newsletter]
From the real-time trading strategy 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.
AUD/JPY is set to take profits on the long. The fair value is around 81.65 yen. The long-term trend is at 84.55 yen, and it is still in a downtrend.
AUD/USD is set to take profits on the long. If it looks poised to rise further, we will reconsider. The fair value is 0.7170 dollars, and it is currently somewhat undervalued. The long-term trend is 0.7680 dollars, which is quite high.
“Tetsu Emori's Real Trading Strategy” (Tetsu Emori)quoted.
With the dollar broadly weakening, the AUD has risen against the dollar. As seen in the chart below, a large gap has opened. It will be interesting to see whether there is movement to fill this gap. (Editorial desk)
AUD/USD, 1-hour chart.