FeroxWealth
Long

AUDJPY Potential Long Signal Update

FX:AUDJPY   Australian Dollar/Japanese Yen
TRADE UPDATE
Previous analysis:
AUDJPY Potential Long Signal Update

Please see original analysis linked below for in-depth explanation of our long bias.

We are still awaiting a break above and close above this red short-term down trend line on the hourly chart to execute a long position on this pair. We will also need to see confluence from our price action forecasting algorithm forecasting a move to the upside with a chance prediction of 85% or higher. Currently our algorithm is predicting movement to the upside to touch the trend line with a chance prediction of 88%, but we will continue to monitor price action and the updates from our algorithm.

See the link below for an image of our algorithm's forecast for this pair.
http://i.imgur.com/2Y9PIer.png

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