AUDJPY Daily Outlook for 23rd December, 2013 (Monday)

AUDJPY Daily Outlook for 23rd December, 2013 (Monday)

Daily Chart

• We are in a descending channel , and have bounced very well from the bottom of the channel
• Short term view is that we will test the upper channel / 78.6 retrace of recent swing from top channel down.

Hourly Chart

• On the hourly chart, we are getting close to Sell zone or 61.8% retrace - this is an opportunity for a short trade
• There is also a higher sell zone at around the 78.6% retrace, which is also the R1 Weekly

Outlook Trade opportunity

There are two areas possible for shorting , for conservative traders please trade the higher one.
#1 - Short at 61.8% retrace approx 93.00 - TP 20pips
#2 - Short at 78.6 / R1 weekly - 93.50 - TP 40pips minimum

Risk Level High

Tips -

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