Wednesday, December 11, 2013

AUDJPY Daily Outlook for 11th December, 2013 (Wednesday)

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


Outlook Trade opportunity

Intraday trade to short from 94.120 to aim for approx 13-15pips (1:1 RR)

Risk Level High


Tips -

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



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