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FxWirePro: AUD/JPY on track for 83 levels, stay short

  • Our call for AUD/JPY (http://www.econotimes.com/FxWirePro-AUD-JPY-tests-support-at-85-levels-good-to-sell-rallies-188545) has achieved all targets. 
     
  • The pair saw a knee jerk 60 pip spike from 84 levels to 84.63 post RBA decision to hold rates.
     
  • But spike quickly erased, pair slips to hit fresh 3-week lows at 83.69.
     
  • Momentum still heavily bearish. Test of 83 levels likely.

Recommendation: Stay short, lower stops to 84.20, target 83.20/83 
 

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