SaxoTV

Lucas: Still scope for Aussie Yen

369 views
April 29, 2015 asia, aud, aud 2014, aud strength, aud usd, aud weakness, auda, audaud, audaudaud, audcad, audeur, audgbp, audit, audjpy, audnzd, audparity, audusd, audusd 2014, audusd bear, audusd bearish, audusd bull, audusd buying, audusd currency, audusd forex, audusd nonfarm data, audusd nonfarm payroll data, audusd shorat, audusd short, audusd small, audusd support levels, audusd weakness, aus, ausaus, auss, aussi dollar, aussie, aussie bank rates, aussie dolalr, aussie dollar, aussie dollar weakness, aussie economy, aussie kiwi dollar, aussie sterling, aussie weakness, aussie yen, aussiedollar, austerity, australia, australia cash rate, australia central bank, australia currency, australia economy, australia jobs data, australia rates, australia us, australian, australian bank governor glenn stevens, australian banks, australian central bank, australian dollar, australian dollar forex, australian economy, australian rates decision, australian reserve bank, australianeconomy, australiangrowth, aususd, autoplay, foreign exchange, forex, forex 2014 outlook, forex buying, forex exchange, forex idea, forex market, forex market overview, forex markets, forex saxo bank, forex trade idea, forex trading, forextrading, fotrex, fx, fx award, fx crosses, fx exchange, fx forex, fx interbank markets, fx investing, fx market, fx markets, fx options, fx saxo bank, fx spot, fx strategy, fx trade, fx trade idea, fx traders, fx trades, fx trading, fx trends, fx volatility, fxfx, fxmarkets, fxmonthly, fxoptions, fxoptions', fxspot, fxtrade, gfx, jp, jp morgan, jp morgan chase, jp morgan earnings, jp morgan q1, jp morgan q4, jp morgan results, jp morgan shares, jp morgan stock, jpjp, jpjpjp, jpjpjpfx, jpm, jpm eps, jpm results, jpm us, jpm', jpmorgan, jpmorgan chase, jpmprgan, jpn, jpy, jpy 110.00, jpy crosses, jpy highs, jpy levels, jpy lows, jpy strength, jpy weakness, jpychf, jpyusd, saxo tv, tradingfloor.com
Steve Lucas is trading AUDJPY amid a lot of 'will they, won't they' speculation around the Reserve Bank of Australia's monetary policy. While many traders expect the RBA to devalue the Aussie there are now signs that the bank may not be as keen as thought.      

Steve expects a day of consolidation to be a signal across the board that any moves have now stalled following yesterday’s action, dominated by GBP, AUD and to some extent EURUSD strength.

Steve says: "We intend to keep it tight, but at a push we are looking at AUDJPY. A strong rally yesterday has stalled at the 200 day average rate. This level is attracting modest selling in Asia this morning and, although there is no clear reversal pattern, signals are weakening. 

Call – Sell at market with a stop loss at 95.59, the 200 day average.

Targets: 94.48, just above yesterday’s Marabuzo line, 94.02, the 100 day average and 93.58, a 50% pullback to the gains since last week’s low.