AUDJPY Daily Outlook for 11th December, 2013 (Wednesday)
Daily Chart
"Another confirmation candle showing good rejection of the 93 price and down trendline."
- Produced pin bar candle however, basically a range trading day doing the ranges from the previous day.
- Uptrend is limited for now as we are hitting the 61.8 retrace
- tricky one for me to trade at the moment, however, because of the 61.8% level, and most yen crosses are falling, i would risk a short trade
Hourly Chart
"In an area of mess"
This one is hard to trade , and i am more bias to the downside because the yen crosses are falling, and rejection from the 61.8 retrace.
- Upside is limited with two barriers 61.8 retrace and 94 handle,
- This is a chart where i see confusion
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