AUDJPY Trading Idea for the coming week of 13 May 2019

Last week was the 4th consecutive week in which AUDJPY has been falling. However, it is interesting that the candle of last week of quite neutral, and it did so with high volume.

When we look at the daily timeframe, we can see that the volume kept on increasing day by day, and Friday completed with a bullish candle with the highest volume after a hammer on Thursday.

Trading Preference
At this point the only preference is to the upside, as this gives a very high risk-reward ratio. The upside move could be accelerated if Employment data from Australia in the coming week beats the expectations.
Disclaimer: Our analysis and forecasts given on this website are just our point of view about the market. It is not a trading signal or investment advice. 

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Amir is a graduate in International Economics. He has been active in the financial markets since 2014.

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