MrVolcano
Short

AUDJPY - Pinbar reversal rejecting major trend line resistance

FX:AUDJPY   Australian Dollar / Japanese Yen
91 0 1
AUDJPY             is looking ripe for some downside. Price has reached the top of a multi-year channel and is showing signs of rejection. Last week an evening star formed followed by a brief sell off, but bulls managed to jump back in hoping for a continuation. To be honest, the evening star signal was a little bit too early anyway.

Today's pinbar looks justs about right and is also rejecting the upper bollinger band . I think price should hit 78.50, where bulls could step in, but it would be really nice to catch a much bigger move towards the channel lows.

AUD pairs are generally quite weak at the moment supporting this theory. AUDUSD             also looks due for a heavy breakout very soon.

Good luck.
Trade closed: stop reached
Comment: Gapped up over the weekend on news that the FBI would not be charging Clinton and stopped out.

Maybe SL could have been wider. Time will tell.
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
ประเทศไทย
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out