Forex Trade Setups Commentary: AUDJPY inside bar 9−16−10
International Trading
THE TECHNIQUE OF GIVING A GOOD MASSAGE
14 years ago
Thursday, September 16, 2010
, Posted by Usman Ali Minhas at 11:39 PM
The AUDJPY formed a bullish inside bar today in the course of the recent bullish momentum. We can see price is currently hovering near resistance at 80.85. Beyond this level we don’t see much resistance until about 83.50.
The Australian dollar has been very strong recently as a result of continued demand of the country’s rich exports from China and other quickly expanding countries.
Yesterday’s foreign exchange market intervention by the Japanese government to help weaken the surging yen gave further support to this recent bullish push in the AUDJPY and the other Australian dollar crosses.
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Commentary:
The forex market was relatively quiet today as currencies took a breather after Wednesday volatile price movement after Japan intervened in the foreign exchange markets to weaken the yen.
The Dow added 22.10 points, or 0.21 percent, the S&P 500 lost 0.40 points, or 0.04 percent, and the Nasdaq gained 1.93 points, or 0.08 percent.
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