informedtrades
Long

AUD Ready to Take Back Losses From This Week?

FX:AUDJPY   Australian Dollar/Japanese Yen
17 0 0
Today's daily candle hasn't closed yet, so perhaps I'm jumping the gun here and will regret it, but the hammer off support and the 200 EMA between the 50 and 61.8% Fibonacci retracement levels from the latest swing low to swing high in the context of a clear trend is a setup I'll pretty much always take. I'm also seeing signs of AUD getting ready to reverse and make up some of the losses it incurred earlier this week due to bad news across the board; this might be some short covering, strong hands stepping in to buy the dip, or both.

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