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The Trend of the Day - AUD/JPY

The Trend of the Day - AUD/JPY

Gregory McLeod, Currency Analyst

September 2008 high of 90.24 and the August 2008 high of 94.91 which is the measuring objective from the previous channel breakout.

As usual, we use the daily chart to identify the directional bias of a currency pair and then move to a lower time frame, like the 4-hour chart, to pinpoint a good risk/reward entry in the direction of the daily trend. 

Happy Trading!

 

audjpy rebound 11.4.2009

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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