Our free forex signals service trade today is a sell order on the AUD/JPY. The cross is looking for a breakout amid a potential reversal in Aussie.
The AUD/JPY pair dropped after failing to reach 85.50, formerly high. In the short term, the buyers seem exhausted. That’s why I’m looking for new short opportunities. The Japanese Yen Futures rebounded, signaling that the JPY could appreciate against its rivals. Technically, the Yen Futures retreated a little in the short term, but it seems that the correction is over and that the rate could develop a new leg higher. The Japanese Yen could dominate the currency market if the Yen Futures jump towards new highs.
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The JPY tries to take the lead and appreciate against its rivals even if the Japanese Unemployment Rate surged unexpectedly from 2.7% to 2.8% on Friday. On the other hand, the Australian Retail Sales rose by 1.8%, matching expectations.
ANZ Job Advertisements 8.4%
Today, the ANZ Job Advertisements rose by 8.4% in February versus a 0.7% growth in January. Also, the Chinese economic data came in better than expected as well. Still, it remains to see if the Aussie will be strong enough to stay higher.
3 Free Forex Every Week – Full Technical Analysis
From the technical point of view, the AUD/JPY pair could develop a downwards movement if it stays within the descending pitchfork’s body and makes a new lower low.
Free forex signals – Sell AUD/JPY at 85.00
Free forex signals entry price, stop-loss, and take-profit
Order Type: SELL STOP
Entry price: 85.00
Stop Loss: 85.51
My Risk: 1%
Risk / Reward Ratio: 1:2
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