AUDJPY Forecast and Trade Setup for the week ending 22nd August, 2014

AUDJPY Forecast and Trade Setup for the week ending 22nd August, 2014

Monthly Chart

• Had been trading in a range for couple of months already

Weekly Chart

• Trading in a tight range for the most of 2014
• RSI and MACD is in the bullish territory

Daily Chart

• Support at 94.50 is proven from a strong hammer 

Hourly Chart

• Looks primed to test resistance 96.200 where it would be a confluence of
• 88.6 Fib retrace from July high to low
• Fib Expansion of FE100 swing from last week
• Expansion of 127.20 of swing from 8th of August 2014

Outlook Trade opportunity

For the brave to jump on board to ride it up, however must look at the JPN225 closely for strong resistance

Risk Level __

Tips -

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