AUDJPY Free Forex Trading Signals – 14th Dec 2016

Today there is a massive news event at 19.00 GMT. “Federal funds rate” is going to be declared, so market is supposed to have huge volatility. Moreover, the pairs might get sluggish. We have been eying on AUDJPY, which is a pair not directly related to the USD. The pair has been having a bull trend on the daily chart. On the 4 hourly chart, it has had some corrections. Thus, it might be the time for the pair to make an upside breakout and make a bull run. Let us have a look at the 1 hourly chart to find out the equations.

The level of 86.120 area has been working as an excellent support. The pair has reacted today on the level twice so far. Now if the price goes to the level of 86.560 with strong momentum and breaks the level, then the pair should go to the level of 87.000 without having that many obstructions. Keep that in mind; 87.000 is a round number as well. A round number normally plays a big role in the market.

Let us have a look at the AUDJPY trade setup…

• Entry- Enter a buy stop order at 86.565
• Stop loss- Below today’s lower low, which is 86.135
• Take profit: 87.000

We hope that you enjoy our Free Forex Trading Signal today: AUDJPY Free Forex Trading Signals – 14th Dec 2016.
Comment below if you have questions on this trade and please let us know if you made money if this trade signal.

Good luck!

You can also take a look at our previous (and most likely profitable) Free Forex Trading Signals Here.

Tip of the day:
When market is about to see big news events, volatility might come much earlier than the expected hour. Therefore, traders have to be extremely careful with their stop loss, trading lot, take profit level, etc. If there is any doubt, we might as well not push ourselves for taking entry. There is always another day, which will definitely offer us better opportunities. We have to know the art of survival. If we can survive, market will make us handful. We just have to maintain one thing that is called “patience.”