AUDJPY Possible Trade Setup (Short) - 09.04.14
Hourly Chart
Wednesday, April 9, 2014
AUDJPY Possible Trade Setup (Short) - 09.04.14
Tuesday, April 8, 2014
USDJPY Forecast and Setup for the week 8th April 2014
USDJPY Forecast and Setup for the week 8th April 2014
Weekly Chart
- Last week Candle was a Shooting Star Pattern
- Cautious here because the Body of the candle is above previous body, which has a lower chance of a reversal candle
Daily Chart
- We have had Bearish run since Friday, however we are nearing support at around 102.700 which has
- Fib 50, 38.2
- Previous Resistance which now should hold as support
- Outside return of an Descending Trendline which could be a retest of the break
- Ichimoku Cloud and Kijun san line
- We also have a hidden stochastic positive divergence (possible)
Hourly Chart
- Early Asian Session we continue to see sell off, however bound a good bounce from the monthly pivot / W S1 Pivot which also is a previous resistance, which becomes support
- I would like a smaller push down towards 102.500-600 before attempting a long scalp
- Stochastics on the H4 is at oversold still
Outlook Trade opportunity
If there is a lower push down, would look for PA bounce to go for a long.Going for a long now is risky with the big bearish Candle (on the H1)
Note we have JPY data today
Risk Level - Medium
Tips -
Always take note of any economical news event on our provided calender below
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