Audjpy signal
After the release of strong employment data from Australia, the AUD/JPY currency pair increased by more than 100 dollars. Considering the interest rate differential between the two countries and the lack of further rate hikes in Japan, the likelihood of the first scenario is higher. The second scenario is more likely if the market becomes risk off, leading to the rise of safe-haven currencies like the Japanese yen. In that case, we would expect to see a decline in the AUD/JPY pair down to the bottom of the triangle pattern.
Target for the first scenario (long trade): 101.425
Target for the second scenario (short trade): 99.705
Target for the first scenario (long trade): 101.425
Target for the second scenario (short trade): 99.705
Note
The increase in tensions in recent days has caused a decline in this currency pair, and the second scenario is being completed. The previously announced target was 99.705. If the price successfully breaks this area to the downside, it could move towards 97.645.
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