SamKent
Long

AUD/JPY BUYING ZONE

FX:AUDJPY   Australian Dollar / Japanese Yen
115 0 2
The Pair seems to be on its way to the trend line which is backed by the 61.8 fib area, as well as a horizontal support line. The pair is oversold on the daily slow stochastic , but has not yet crossed back from oversold territory. The pair seems to be forming a shooting star pattern, right after yesterday's doji . The Australian Bank seems content with standing pat on rates, while in Japan the deflationary pressures continue to loom over the Bank's future policies. This all should suggest that if the pair reaches the buy zone, and the oscillators cross back from oversold, we should have a good buying opportunity.
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