stamoyo

AUD/JPY Plausible price action

Long
FX:AUDJPY   Australian Dollar / Japanese Yen
On daily chart, the pair is into a strong divergence with the RSI and the MACD is about to raise from the bottom place it is now. Not so exhausted, the movement will be slowed down a little bit by the fear and resistance line. Even so, after testing a support or two the price will confidently head for the first strong resistance. On 4h chart, the RSI is already bullish and and MACD shows its power. The volume is a little bit lower than before but that is very typical for a forthcoming bullish trend. The volume gets heavy quite before the trend and decreases afterwards.
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