FX Trading Idea AUD/JPY

In our Daily FX Commentary today, we had highlighted AUD/JPY. We had recommended buying at 73.15 with a stop at 72.80 with a profit objective at 74.40.

Price has dropped lower to a low of 72.98. Stochastic and MACD are still moving down but price is supported by the 20EMA around 73.00. Our view remains unchanged. Watch the turnaround from MACD which should indicate the around in price.

Tonight is a NY holiday. Market will be quiet. We will have to wait till tomorrow morning for price movement.

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