We are setting up with AUDJPY in a Triangle formation forming a hook at a key support level. Triangle is tightening in to Dec 15 when a round of tariffs will go into effect. Significant good news with the trade deal and we move above the key line. Any break down with the phase one deal we move fall under the key line.
AUD is very dependent on China hence it will do poorly with a trade talk break down. JPY is a flight to safety if there are global tensions and will be strengthened with a trade talk break down. With positive trade talk phase one the situation reverses.
Will post 1hr charts looking for entries as the situation becomes clearer.
AUD is very dependent on China hence it will do poorly with a trade talk break down. JPY is a flight to safety if there are global tensions and will be strengthened with a trade talk break down. With positive trade talk phase one the situation reverses.
Will post 1hr charts looking for entries as the situation becomes clearer.