Interested in trading comdoll crosses today?
Check them out, yo!
After breaking below an ascending channel earlier this month, AUD/JPY looks ready for a retest.I got my eyes on the 76.50 handle, which is right around a 50% Fib retracement and the 100 and 200 SMAs on the 4-hour time frame.
Think the Aussie will reach the retracement level? It’s still a few pips away from the Fib so y’all can sneak in a pip or two (or a hundred) if you’re confident that AUD/JPY can pop back up to at least 76.50 before seeing bearish pressure.
Feeling like shorting the Aussie instead? I gotta tell ya, it looks like the bulls still got the ball for now. You might want to wait at least some bearish momentum before you target areas of interest like September’s lows.
Here’s one for the range playas out there!
NZD/JPY looks ready to take off from the 69.50 consolidation, which isn’t surprising since the level has served as support at least thrice since mid-June.What makes the chart interesting today is that Stochastic is flashing an oversold signal. Not only that, but the 200 SMA is also chillin’ like a villain around the level!
Buying at current prices would make for a fantastic reward-to-risk ratio especially if you target the previous highs near 71.25.
Not convinced that the Kiwi can make gains against the yen? You can also wait for a clear break below the range and then target potential trips to the 67.75 or 66.25 previous areas of interest.