The equity market could be mostly shown in the aud/jpy. a/j represents equity's funded in yen, and earth commodities, measured in aud strength or lack of. Not tick for tick, but a general smoothed correlation. Anyway the aj is testing support atm. This is reflective of the world economy health wise. Saying health wise is an exaggeration. Its health of the price of equities and commodities. Some money will exchange hands. The money is never lost. It just seeks a new owner. Either by luck or vision. People will still eat and life goes on. The ones with vision or luck will move on to invest in things that got cheaper.
Aj 81.35 is important. A month close below may bring lower commodity prices and stock prices. Remaining above should produce the opposite.
How does a currency exchange between two economically weaker countries affect the world? Australia could decide to print 5 times the amount of currency tomorrow. Guess what happens to this chart? The Yen would rise in value while the Aussie dollar drops.
The yen rising is already. Represented on the chart as a drop on the chart. Australia could print 5 X more. But thats not the way it works. They wont print 5X the money. If Australia would print 5X. The Australia would have 500% inflation.
Gator, do you really want to trade AJ ? I can start it next week.. currently all time frames in my system are downtrend...
also, we need to pay attention to COT reports on Aud/usd and usd/jpy and
for equity, Nikkei and S&P...we need more computer screens...
Its at support.. it should bounce or a lot.. I am just saying its on the edge. i have it already forecast for a huge drop on the usd .. probably in the next 5 years.. the next economic downturn
ok.. I'll look for an opportunity to buy.. since its carry trade.. its better to buy .....I will start it when i get a buy signal...
Currently it will trigger long at 82.33.. next Monday 10:30pm est is AUD rate decision, this may happen very soon...
support working well, it has since bounced near 100 pips
do you want to discuss AJ trades here in steemit or in the swamp ?
..
something is up with AJ.. I will get a long trigger very soon
yeah,, it was sitting on support. In the posted chart. It should have bounced.
I will be long in 20 mins..
That's what i told her.
long at 82.21