Mark Barclay

Mark has 10+ years of forex trading experience. He predominantly trades the European and North American sessions. He trades all forex currencies, equity indices, metals, and commodities.

Trades: EUR, GBP, AUD, NZD, CAD, JPY, CHF, DOW, SP500, OIL, GOLD

Overview

I’ve been following the US/China trade issues closely the last 6 months and noticed it’s correlating very closely with the emergence of a very Dovish RBA. Now if you put two and two together, ie. China doesn’t get a good deal from the US, the safe-haven ‘Buy JPY’ trade will be on big time and the Aussie economy, which relies on China more than any other country, will also continue to crumble forcing the RBA to cut rates aggressively! It’s a double whammy scenario and the AUDJPY stands out head and shoulders as the best trade!

It’s already dropped 538 pips over the last 22 days and I can see it going another 1000 if it all kicks off!

Current Technicals: Down

Hourly Resistance: 75.86

Hourly Support: 75.40

AUDJPY HOURLY CHART – Current Price 75.72

Current Fundamentals: Down

Central Bank Sentiment: Down

Geopolitical Impact: Down

Upcoming Potential Fundamental Drivers

Trade Execution

Our Preference

Long Term Trade – Short positions below 76.00 with a target towards 65.00 within the next month or two.

Trailing stop 100 pips behind the market.

Alternative Scenario

Above 76.00, I’ll be squaring up and reassessing the geopolitical issue driving this pair.

Execution Software

If trading the technical levels: Trendline Trader or Ichimoku Cloud Trader

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