# AUD/JPY Showing Momenutm (January 16, 2014)

Source: https://www.tradersway.com/resources/market-info/aud-jpy-showing-momenutm-january-16-2014/
Language: en
Updated: 2014-01-16
Description: Explore AUD/JPY Showing Momenutm (January 16, 2014). Thanks to. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding.

Thanks to Australia’s weaker than expected jobs data, AUD/JPY finally broke below that short-term consolidation on the top of the falling channel on its 4-hour time frame. At the same time, the yen could continue to gain ground as risk aversion has been driving currency movements.



Stochastic is in the oversold region though, indicating a potential bounce, but this might only last until the top of the channel or the bottom of the box pattern.



![AUD/JPY Showing Momenutm (January 16, 2014)]



Shorting at market with a stop above the channel or 100 pips and aiming for the bottom of the channel around 90.50 could yield a good return on risk.



*By Kate Curtis from Trader’s Way*

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