The markets have been questionable these past few days but there were many opportunities for intraday traders to grab some pips. Now I can see a very good opportunity for Price to push higher and fill the Weekly wick formed. The 4HR has formed a higher low and also retested a broken resistance point which in turn respected the .618% on the fib. This tells me price is ready to make a move. On the 30 min. price formed a inverse head & shoulders pattern and is pushing strong during Asian session. I believe there will be more buyers momentum to come in London session and New York session to help give price its push towards a higher high. This looks like a great area to buy before the push if it comes.
Comment:
Price has made its retest of the inverse head & shoulders and is gaining the momentum needed to break past this résistance on the 4HR. look for entry on break and retest on 15 min. I bought off double bottom on 10 min. TF
Trade closed manually:
Closed trade with good profit but analysis still stands if it closes bullish over 83.700-.750 price should push higher.
Trade closed: target reached:
Price hit bank level of 84.000 and rejected it heavily. Every bank level is usually the best overall target for these market conditions. Try not to hold trades too long and have realistic targets Audjpy is not moving like GbpJpy or Gold.