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Australian Dollar/Japanese Yen Trading Signal - AUDJPY
Forex Market Price Signals and Analysis
Good evening Traders,
With yesterday's close, Nov. 28, Lift-Off is offering us a SHORT trading signal on AUD/JPY.
The cross is in a trading range, and the price yesterday closed at the lower end with high volatility, but the price may encounter resistance before continuing its descent.
Australian interest rate (RBA) 2.85%
Japan interest rate (BOJ) -0.10%
Also from the rate data, the Australian dollar has more strength against the yen, but in recent days the yen's relative strength is greater against other currencies.
Below chart of AUDJPY - with signal detected by Lift-Off
Signal Chart of Nov. 29, 2022
SHORT-AUDJPY
Input price: 92.8580 JPY (current market price, valid even lower)
CAUTION: reduce risk given price in congestion and interest rates in favor of AUD.