Price showed 4H long lower shadow , as a signal of finishing pullback, but as we see, bullish momentum is weak and deeper downward movement is probable.
Hey traders, in today's trading session we are monitoring AUDJPY for a short term buying opportunity around 83 zone, once we will receive any bullish confirmation the trade will be executed.
Trade safe, Joe.
AussieJPY had a straight Bullish run for several days now, and on the daily it is now at past support that can become future resistance. if you take a look here at www.mataf.net and you pull up the Aussie Daily chart and you pull up the JPY Daily chart you will see that the Aussie is hitting a past support that can become future resistance and the the JPY is...
Last week the AudJpy sold off breaking below key support at 85.703. A correction and possible re-test of this broken support turning resistance would provide the corrective part of a Bear Flag formation and provide opportunities for Shorts down towards the next key area of support to the downside at 83.705.
AudJpy broke above key resistance at 88.337 and is now looking to re-test this area of confluence (horizontal support and trend line support) with an ABC corrective pattern. This provides a great opportunity to look for longs up towards the target of the 89.352 next week.
