Hello guys,
In this video i show what i see on the Aussie Japanese pair. I see a potential short position and riding the trend to lower levels. I know the reserve bank of Australia is expected to hold rates which would give the Aussie some strength but overall i think the Chinese economy is getting hit so hard by the corona virus that it will be hard for the Aussie dollar to have full strength. I will be waiting for a pull back to either the first or the second level of resistance indicated by the rectangles to offer the best risk reward for the trade and also they are weekly levels that could be take profit for quick scalper hoping to capitalize on the strength of the Aussie if the RBA decides to hold rates.
In this video i show what i see on the Aussie Japanese pair. I see a potential short position and riding the trend to lower levels. I know the reserve bank of Australia is expected to hold rates which would give the Aussie some strength but overall i think the Chinese economy is getting hit so hard by the corona virus that it will be hard for the Aussie dollar to have full strength. I will be waiting for a pull back to either the first or the second level of resistance indicated by the rectangles to offer the best risk reward for the trade and also they are weekly levels that could be take profit for quick scalper hoping to capitalize on the strength of the Aussie if the RBA decides to hold rates.