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Aussieyen

A Nice Correlation Trade Is Setting Up Between AUD/JPY & CAD/JPY*Position Update: On 05/05/2015 we liquidated both sides of this correlation trade with a profit of 73.1 Pips while taking advantage of the correlation spread narrowing after the interest rate decision in Australia. A nice correlation trade is setting up between AUD/JPY & CAD/JPY. The spread in the correlation is currently 200 Pips, over the past year the max spread has been approximately 400 - 450 Pips. We will be taking 1/2 our intended position size, if the spread widens to that max spread mentioned above we will add the second 1/2. Australia is announcing interest rates in 3 hours which could provide that opportunity or present us with a profit. The trade is Long AUD/JPY & Short CAD/JPY.
Long
by unique4x
AUDJPY POTENTIAL SHORT @ ~94.160AUDJPY has been in a downtrend for months due to a weakening Oz economy (in recession). The Aussie has strengthened this year climbing to the 0.50 retracement of the last downswing. The current upswing has taken out intermediate supply on its way up and is now getting to the 0.618 level which coincides with an intermediate supply zone @ ~94.160. the rally into the area has slowed somewhat suggesting the buying pressure is fading. If this zone is full of sellers and the imbalance is as great as price suggests, prices should fall through and all the way back to demand @ ~89.930.
Short
by selfrighteousgambler