USD/JPY and AUD/USD Forecast September 2, 2020

from daily forex this is chris taking a look at the dollar yen and as you can see pretty choppy day um the dollar reversed we actually were pretty negative not necessarily in this pair but a lot

Of other ones and then we formed us dollar strength towards the end of the day quite drastically so that's worth paying attention to nonetheless i think this pair is going

To be a little bit of an outlier we have two very loose monetary policies being conducted i look at this as 107 106 and 105 as your levels we're just simply banging around in

These areas and i think short-term trading is the way to go here i'm not a big advocate of short-term trading but clearly that's what we've got

If we break down below 105 then we'll go looking towards 104 and a third followed by 102 all of which have been important in the past if we break higher then it's not really until we clear 107

And a half but i think you could start to to think about buying i still prefer shorting that's not really the question here it's just can i get an opportunity to short up here or will we

Short here you can find that answer on the 15-minute chart over here the aussie has given up gains to form a very ugly shooting star this is what i was talking about you see this

In the euro and the pound as well i think it's very likely we pull back probably got a little overextended before we rally again jobs number coming out on friday might have people nervous who knows we

Just were overextended and that's really all there is to it so nice pullback should be coming that pullback should end up being a nice buying opportunity you