Wednesday, February 11, 2015
New Signal AUD/JPY
*Signal Update: As of 02/13/2015 @ 7:11 EST The Global Currency Scalper has cancelled its order on this pair ahead of the weekend and any possible news from Greece. We will reevaluate on Sunday evening.
As of 02/11/2015 @ 21:31 EST:
We have identified a possible short trade in AUD/JPY. This pair has been in a downtrend since last November and has recently retraced to the 23.6% Fibonacci level. After 6 days of trading around this level and the extremely poor employment numbers just released in Australia it looks like the bears are gaining control of this pair.
The Global Currency Scalper will be taking a short trade but we need to see a small rebound to 92.450 to happen first. With the added volatility, courtesy of the employment data, we have a very good chance of getting our fill. Targets will be 91.400, then the figure of 91.000 and eventually 90.700. We will place a stop with a break of 93.150.