AUDJPY rsi divergence shows weakness?
I have identified a hidden bearish divergence followed by 2 bearish divergences. Price of the AUD has been falling against safe haven currency JPY for the past few weeks. The price has rallied this week in the run up to the RBA interest rate decision, held at 0.1%, this met the expectations of the market and we expect price to resume trend over the next few days. JPY has seen strength since the omicron variant emerged and capital began to seek safe haven assets. This fear still exists in the market and flight to safe haven assets is still taking place giving us further conviction for this trade.
As always though do your own research when using your own money this is not investment advice just a journal of my trades. I hope my analysis helps and please let me know if you agree or disagree with me in the comments below.
As always though do your own research when using your own money this is not investment advice just a journal of my trades. I hope my analysis helps and please let me know if you agree or disagree with me in the comments below.
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