Updated: Aug 1
Following the AUD Strength AUDJPY lined up perfect for a long
Logikfx Trader members and Professional members were able to catch a AUDJPY long on the 21/02/2019. This is because there was a huge deviation between the two quant scores, AUD increase to +20 and JPY decreased to -40. This was a perfect long opportunity for a high probability trade.
"IMF gave Australia big tick despite warnings says Josh Frydenberg" The Australian
"Japan’s factory output dropped again in December, fuelling concern that a moderately rebounding economy is facing strong headwinds as weakness in Chinese growth and the U.S-China trade war hit global demand." Bloomberg
Most the economic news releases and scheduled data signalled a long in AUDJPY, even though many headlines were highlighting the weakness in the AUD housing market. Just showing why consuming mass media news can really brainwash your perception on what's really happening in the economy and the exchange rate.
Above shows the position sky rocket after the forecast as the price reflects the true value of the economy. We could now see a rebound to test the resistance and even a breakout as China comes to a deal with the US on tariffs.
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