YEN is set to weaken against the USD and has made a multy year low imo. USDJPY is now set to rise into 110 by/before Dec2015. Consistent JPY trade deficits forces BOJ to fund YEN expansion to kerb deflation = weaker YEN.
Cross pair AJ
AUDJPY = AUDUSD x USDJPY
So any rise/fall in $AUD will amplify the AUDJPY.
You might find this AUDJPY chart interesting.
AUDJPY direction coincide with AUDUSD main pair. From here, the inv H&S sets up the upside target if it breaks out as shown.
Many funs obviously using the 1983 float data as the starting point - this explains the H&S.
My strategy is buy USDJPY on dips, long bias prevails
AUDUSD is the risk. If $AU fails below $1.07 short $AU and $AJ. $AUD trade will be confirmed by $AJ break of setup.
yin yen - some musings
Add JPY (FOREX) to my watchlist
The Watchlist
ACW
ACTINOGEN MEDICAL LIMITED
Steven Gourlay, Managing Director and CEO
Steven Gourlay
Managing Director and CEO
Previous Video
Next Video
SPONSORED BY The Market Online