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Friday, July 28, 2017

AUD/JPY: Retracement

Yesterday AUD/JPY have been moving bearish. 

But today there is retracement opportunity that most probably happens. We are expecting to see the currency pair to retrace at least to reach 88.758 for today.

As seen in the following picture, AUD/JPY will most probably move following the retracement path up to the yellow zone.

Forex Technical Analysis



There is Long Position Opportunity for today on this pair.

Signal for today:
Buy @ 88.517
SL @ 88.225
TP @ 88.650

However, shall AUD/JPY break below 88.438 then retracement scenario might be canceled for today and in this case, we will move our TP to our opening position to minimize possible loss.