Yen Versus Dollar and Aussie August 29th

FX Strategy Video > Currency Pairs Analysis

The USD/JPY pair has been whipped around the recent area, and the last couple of days have been very active. The BoJ is willing to step in and support this pair, but there really no reason that the pair should go upwards.

The AUD/JPY is a much clearer situation than the USD/JPY pair. The hammer that has been formed is a great signal to go long in this pair, but only if we managed to break the highs on Friday. With the Aussie being so strong against many other currencies, this move makes sense.

Published on 26th of August 2011
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