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AUD/JPY warns of a stronger rally attempt

A well bid AUD/JPY elevates the ADX above its 50 level, signal of a highly constructive trend on 1hr charts.

What makes the higher settlement in the ADX rare -although not unprecedented- is the fact that it was printing below 35 ten hours ago.

Such an outperformance encourages momentum traders to pile in, and adjust positions by means of trailing stops. This may have the opposite effect of a corrective slide, driving the prices towards the 200-hour SMA to find less impulsive buyers.

UK: Construction output and trade balance witness deterioration – TDS

Ned Rumpeltin, European Head of Currency Strategy at TD Securities, notes that the UK construction output fell sharply while trade balance also witness deterioration.
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EUR/JPY powerful rally threated

EUR/JPY powerful rally threated
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