Olu
Short

AudJpy: Rolling over?

FX:AUDJPY   Australian Dollar/Japanese Yen
38 3 0
Comments on the chart
Hi Olu,
This aria of 92.00-92.20 is an interesting one. Look back for the last 51 days. When the price come down under it was rejected promptly above it. I think it is forming an accumulation zone (between 90.60 and 93.75). CCI is neutral on daily. Also, on weekly chart you may see a bullish engulfing candle. I am bullish here.
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Olu Zyggy
Hi Zyggy. I see your point here. There is a bullish engulfing candle on the weekly chart. I dont know how I missed that in the first place as I love engulfing candle trading. While price is still below the 50sma on the weekly the weekly stoch looks angling up. So I will not be taking a short right away. Thanks for bringing it to my attention
Reply
There is some support right where price is right now (look left) and that area must give way before shorting imho
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