##{"id":59227,"date":"2011-11-29T10:59:59","date_gmt":"2011-11-28T23:59:59","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2011\/11\/29\/treasure-chest-a-compelling-opportunity-in-audjpy\/"},"modified":"2011-11-29T10:59:59","modified_gmt":"2011-11-28T23:59:59","slug":"treasure-chest-a-compelling-opportunity-in-audjpy","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2011\/11\/29\/treasure-chest-a-compelling-opportunity-in-audjpy\/","title":{"rendered":"Treasure Chest: A ‘Compelling’ Opportunity in AUD\/JPY"},"content":{"rendered":"

\n\tWhat?<\/strong><\/p>\n

\tFXCM<\/span> FX trader James Stanley believes there is a "compelling" risk-reward opportunity in AUD\/JPY<\/span>.<\/p>\n

\tHow?<\/strong><\/p>\n

\tStanley is using technical analysis, and more specifically Ichimoku<\/span> clouds to come to a longer term view on FX trends. He also suspects more FX traders in Japan use Ichimoku<\/span> and this makes this technique more appropriate for FX crosses that involve the Japanese Yen. His analysis shows AUD\/JPY<\/span> is currently at an inflection point near the top-side of the Kumo<\/span> ("cloud") on the 4 hour AUD\/JPY<\/span> chart. This, he believes, presents traders with "a compelling opportunity to look at short positions".<\/p>\n

\t $\"\"$ <\/p>\n

\tReports Stanley: "<\/span>if I am correct, there is a lot of room on the downside for the currency pair to run. Recent price has traded as low as 75 on the AUD\/JPY<\/span> currency pair and I am using this swing-low support as my profit target on the trade; presenting an approximate risk\/reward ratio of 1 to 3.5."<\/span><\/p>\n

\n\tTechnical limitations<\/strong><\/p>\n

\n\tIf you are reading this story through a third party distribution channel and you cannot see charts included<\/span>, we apologise<\/span><\/span>, but technical limitations are to blame.<\/em><\/strong><\/p>\n

\n\tFind out why FNArena<\/span> subscribers like the service so much: "Your Feedback (Thank You)<\/a>" – Warning this story contains unashamedly positive feedback on the service provided.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"