AUDJPY SHORT
OANDA: AUDJPY
The Japanese Yen drops to a fresh multi-month low on Wednesday and remains vulnerable.
The BoJ rate-hike uncertainty overshadows a stronger Japanese PPI and undermines the JPY.
Elevated US bond yields weigh on the JPY further amid a bullish USD ahead of US CPI.
Trend Direction: It's a downtrend.
Key Levels: Major support level at 99.545 and
Major resistance zones at 102.307
Indicator: EMA - bearish momentum.
Trade Setup: Outline
*Entry: 101.087
*Stop-Loss: 101.255
*Take-Profit: 99.980
The Japanese Yen drops to a fresh multi-month low on Wednesday and remains vulnerable.
The BoJ rate-hike uncertainty overshadows a stronger Japanese PPI and undermines the JPY.
Elevated US bond yields weigh on the JPY further amid a bullish USD ahead of US CPI.
Trend Direction: It's a downtrend.
Key Levels: Major support level at 99.545 and
Major resistance zones at 102.307
Indicator: EMA - bearish momentum.
Trade Setup: Outline
*Entry: 101.087
*Stop-Loss: 101.255
*Take-Profit: 99.980
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