FX:AUDJPY   Australian Dollar/Japanese Yen
53 0 3
Simple price action             trade. The pair seems to be in consolidation in a rectangle . Lower trend line acting as support has been hit and not broken forming a hammer . This indicates a reversal to the upside and buying pressure. On the 4 hour, after the close of the current 6pm candle we should have a bullish engulfing .

On the 1 hour chart we have a morning star formation which shows strong reversal followed by 3 bullish soldiers. Stochastic is also in oversold conditions headed upwards.
Trade closed: target reached: Target hit for 160 pips profit.
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