AUDJPY Daily Outlook for 10th December, 2013 (Tuesday)

AUDJPY Daily Outlook for 10th December, 2013 (Tuesday)

Daily Chart

Broke out of the downtrend line. With good candle showing but watch out for the 61.8




Monday gave us some good indication it broke out of the near term downtrend line
The next level to go up to is 95.95 level however support 93.50 has to hold. But don't be bulls yet as the 61.8% 94.15 is just above current prices. until it clears that, then you can go bull

• Broke out of downtrend line
• note 61.8 level is very near, need to pass that to continue up
• 
  

Hourly Chart

We are trading out of the down trendline, however upside seems limited with the 61.8 retrace in play  (oct high to dec low)

• We are trading above the ichikumo clouds, and if price retraces to daily S1 pivot we will be happy to take longs
• 
  

Outlook Trade opportunity

If market goes to daily S1 level we will be initiating longs for an initial TP1 at Daily pivot, then will leave the rest of the trade at break even to let it go up towards Yesterdays R1 and beyond.

Risk Level Medium

Tips -

Always take note of any economical news event on our provided calender below