19th March 2018 Market Outlook

Aussie Yen – AUD/JPY decline sharply into our first target at 81.54 support level after price rejected its 84.00–83.73 resistance area as we expected in our 13th March 2018 Market Outlook. Traders who went short as we recommended may consider scale out the position at this 81.54 support level while leaving the rest to run further with a trailing stop behind. if price is able to breakout below its 81.54 support level, we are then likely going to see further decline coming into this market in the coming weeks.

AUDJPYrDaily

 

Euro Aussie – EUR/AUD rally higher after price rejected its 1.5620 support level as we expected in our 14th March 2018 Market Outlook. As price approach our first target at 1.5970, traders may consider scale out the position to lock in profits. If price is able to breakout above its 1.5970 resistance level, we are then likely going to see further rally coming into this market in the near term.

EURAUDrDaily

 

Euro Yen – EUR/JPY continue to decline lower after price rejected its 133.10–132.40 resistance area as we expected in our 15th Market 2018 Market Outlook. Traders who went short as we recommended may consider continue holding onto the short position with a trailing stop behind as price is likely going to continue its decline into our first target located at 128.00.

EURJPYrDaily