AUDJPY seem to be completing a harmonic pattern. This is clearly not my field, but it's a good information for a short possibility. There is still some upside potential but it doesn't have to reach 87.400, 87.000 could also be a point of reversal.
The 50MA has crossed over 200MA to the upside which can indicate a upside potential. The bulls is showing strong momentum by the long green candles to the top side. The friday close wasn't that strong as showing a lot wicks, both to the top and bottom side. Could this show that the momentum is slowing down, create a pullback then continue up?
The high impact news for the coming week:
On AUD it's the Reserve Bank of Australia 's Cash Rate Target decision on Tuesday 4th of July
Trade only the best setups and trade safe!
The 50MA has crossed over 200MA to the upside which can indicate a upside potential. The bulls is showing strong momentum by the long green candles to the top side. The friday close wasn't that strong as showing a lot wicks, both to the top and bottom side. Could this show that the momentum is slowing down, create a pullback then continue up?
The high impact news for the coming week:
On AUD it's the Reserve Bank of Australia 's Cash Rate Target decision on Tuesday 4th of July
Trade only the best setups and trade safe!
Trade closed: target reached