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Market Mood AUDJPY 17.12.20

Market Mood AUDJPY 17.12.20

Market Mood AUDJPY 17.12.20

in Weekly Forecasts

Listen to the latest market mood for the AUDJPY pair.

Strong AUD, Weak JPY

The AUDJPY pair is set to gain from a COVID-19 vaccine. The AUDJPY pair is often traded as a proxy for global growth. With vaccine hopes well underway, large levels of fiscal and monetary support, rising commodity prices and optimism for a return to growth in 2021 the AUDJPY pair stands to gain from current prices.

The daily chart has shown a break of a head and shoulders pattern on the daily chart and a measured target of 82.00 would be the first target for buyers. Stops would be run underneath the right shoulder at 75.00.

Therefore expect AUDJPY buyers at market.

Trade Risks:

  • The main risk to this trade is if global growth does not happen next year.
  • Another risk is if the US stimulus bill is not passed and equity markets fall. This would invalidate this outlook.

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Cookies Policy

Disclaimer: Any opinions made may be personal to the author and may not reflect the opinions of HYCM. All expressions of opinion are subject to change without notice. This material is considered a marketing communication and does not contain, and should not be construed as containing, investment advice or an investment recommendation or, an offer of or solicitation for any transactions in financial instruments. HYCM makes no representation and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or other information supplied by an employee of HYCM, a third party or otherwise. Past performance is not an indication of possible future performance. Without the approval of HYCM, reproduction or redistribution of this information isn’t permitted.

Legal Information: HYCM is the trading name of Henyep Capital Markets (UK) Limited, HYCM (Europe) Ltd, HYCM Limited and Henyep Capital Markets (DIFC) Limited for which the Henyep Capital Markets group is holding company and its assets are a controlling equity interest in them.

* Cryptocurrencies are not available for trading under HYCM (Europe) Limited and Henyep Capital Markets (UK) Limited (retail clients only).

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