09/01/23 Daily Currency Strength Analysis: AUDJPY Day Trading Long Idea

Mon 9th January 2023

Today, Our Daily Currency Strength Weakness Video is looking at Trading Setups in:

• NZDUSD
• AUDJPY
• AUDUSD
• USDCAD

AUDJPY Day Trading Long Idea

In today’s currency strength video we identified the AUD is the strongest currency across both tables. The JPY has appeared as W1 on the day traders tables suggesting we could see AUDJPY trade higher in the short term.

The price of AUDJPY has moved higher since retesting the lows at 87.50 at the beginning of January.

Most recently the price has traded through the 91.00 level and previous highs showing buyers are in control.

This could see the price of AUDJPY trade higher towards the 92.00 level.

Technical Observations

• The AUD is S1 on the both tables and the JPY is W1 on the day traders.
• Price found support at 87.50 and has traded higher.
• Most recently the price has broken through the 91.00 highs showing buying momentum.
• The next targets for day and trend traders in 92.00-93.00