Oversold AUD/JPY portends notable low in Oil

The study below shows that WTI Crude Oil makes a notable low approximately 6 weeks after the AUD/JPY first enters weekly oversold territory. 

I’d say that 3 occurrences of a weekly Oversold AUD/JPY in 22 years is considered ‘notable’.

This could be my ultimate illustration definition of ‘waiting for your pitch’.

Should this study hold true, at this stage, the AUD/JPY is yet to enter Oversold territory and so the Oil price is not at a ‘monumental’ low.

January 16, 2023

by Rob Zdravevski

rob@karriasset.com.au

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