Fernandobeast
Long

AUDJPY Weekly shark huge pips

FX:AUDJPY   Australian Dollar / Japanese Yen
The pair crashed around 500 pips after a butterfly pattern , did not anticipate this at all. But all the pullback was shallow and after a long time of consolidation price still dropped to our PRZ. It is too fishy that the pair just free fall to downside without any significant retracement.
H4 we can find 2 patterns, bullish Deep crab and Crab
Comment: AUD/JPY position on , lets see if the 75 pip hesitation zone plus shark 88.6 will be respected after JPY interest rate , if not , cut the loss
Comment: Finally some movement from NY session , Now we are looking for daily candle close above 88.6 resistance(ideally closed above 75 quarter point ahead of after Japanese interest rate decision). If not , move SL to break even or exit the trade
Order cancelled: Fundamentally, The idea could not be supported any more. All data shows Aussie weakness and the bank has cut it interest rate last month which could lead to a new round of QE, As Aussie's main export through metal(Gold Copper) that is boosting, a 2nd rate cut is not impossible to prevent recession. JPY, on the other hand, although we've see they dont wanna a stronger Yen by comparing their 2yr and 10yr Bond/yield price. In short, the Pair might consolidate for a long time, unless next week's G20 can give us some surprise.
keep it up! great
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